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10 Jun 2014
EUR/USD; a hard time for the bulls - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet wrote that the EUR/USD not only faltered to extend beyond critical 1.3680 resistance but broke below the 1.3600 figure.
Key Quotes:
“In stocks, European indexes closed slightly higher with half markets closed on holiday, while US indexes extended up to fresh highs but present a limited intraday change as per hovering in between red and green around opening levels”.
“As for the EUR/USD, the pair extended up to 1.3668 on the day, yet failed also in sustain gains above its 200 DMA, giving a hard time to bulls for third week in a row”.
“Short term, the hourly chart presents a quite strong bearish tone as per price accelerating below moving averages and indicators near oversold levels”.
“In the 4 hours chart indicators gain bearish slope slowly extending into negative territory, as price stands below moving averages. Further downward pressure is seen on a break below 1.3570 immediate support, looking then for a probable test of past week low of 1.3502”.
Key Quotes:
“In stocks, European indexes closed slightly higher with half markets closed on holiday, while US indexes extended up to fresh highs but present a limited intraday change as per hovering in between red and green around opening levels”.
“As for the EUR/USD, the pair extended up to 1.3668 on the day, yet failed also in sustain gains above its 200 DMA, giving a hard time to bulls for third week in a row”.
“Short term, the hourly chart presents a quite strong bearish tone as per price accelerating below moving averages and indicators near oversold levels”.
“In the 4 hours chart indicators gain bearish slope slowly extending into negative territory, as price stands below moving averages. Further downward pressure is seen on a break below 1.3570 immediate support, looking then for a probable test of past week low of 1.3502”.