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2 Dec 2014
EUR/USD trading lower in range – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, sees the bearish tone developing for the EUR/USD pair as it trends around its daily low.
Key Quotes
“Trading around its daily low, the 4 hours chart presents an increasing bearish tone as price extends below its 20 SMA now turning lower around 1.2460, while indicators turned lower right below their midlines, still in neutral territory.”
“So far critical support around 1.2400 has contained the downside, and seems likely the level will keep on holding until ECB meeting on Thursday, yet if stops get triggered below, a quick run towards 1.2360 could be expected.”
“Sellers are still aligned in the 1.2500/20 area, also expected to hold until upcoming European economic policy decision.”
Key Quotes
“Trading around its daily low, the 4 hours chart presents an increasing bearish tone as price extends below its 20 SMA now turning lower around 1.2460, while indicators turned lower right below their midlines, still in neutral territory.”
“So far critical support around 1.2400 has contained the downside, and seems likely the level will keep on holding until ECB meeting on Thursday, yet if stops get triggered below, a quick run towards 1.2360 could be expected.”
“Sellers are still aligned in the 1.2500/20 area, also expected to hold until upcoming European economic policy decision.”