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15 Dec 2014
EUR/USD sees an increasing downward risk – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, the EUR/USD pair trades with a soft tone this morning, with the indicators pointing towards an increasing risk of further short term declines.
Key Quotes
“The EUR/USD pair trades with a soft tone this Monday, with dollar finding limited support in Abe’s adjusted victory in Japan.”
“There will be no fundamental data released during European hours, although US industrial and manufacturing data will bring some action during the upcoming session.”
“As for the EUR/USD technical picture, the 4 hours chart shows price testing a bullish 20 SMA around 1.2420, immediate short term support, as indicators turned lower and approach their midlines, increasing the risk of further short term declines. If the dollar accelerates below mentioned support, chances are of a downward continuation towards 1.2360.”
“Immediate resistance stands at 1.2440/50 price zone, and it will take some steady gains above this last to confirm a run towards the 1.2500 price zone.”
Key Quotes
“The EUR/USD pair trades with a soft tone this Monday, with dollar finding limited support in Abe’s adjusted victory in Japan.”
“There will be no fundamental data released during European hours, although US industrial and manufacturing data will bring some action during the upcoming session.”
“As for the EUR/USD technical picture, the 4 hours chart shows price testing a bullish 20 SMA around 1.2420, immediate short term support, as indicators turned lower and approach their midlines, increasing the risk of further short term declines. If the dollar accelerates below mentioned support, chances are of a downward continuation towards 1.2360.”
“Immediate resistance stands at 1.2440/50 price zone, and it will take some steady gains above this last to confirm a run towards the 1.2500 price zone.”