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28 Jan 2014
Flash: EUR/USD: little room for further gains – FXStreet
FXstreet.com (Córdoba) - Valeria Bednarik, chief analyst at FXStreet notes that EUR/USD short-term technical indicators maintain the negative tone, suggesting little room for further gains.
Key Quotes
"Having been as low as 1.3628, the EUR/USD surged after US Durable Orders fell the most in five months in December, according to the latest release. The pair recovered the ground lost, surging back above 1.3660 and the hourly chart shows price aiming to recover above its 20 SMA while indicators point higher, right below their midlines".
"In the 4 hours chart price found support and bounced exactly from its 200 EMA, yet technical indicators maintain the negative tone seen earlier, which for now suggests not much room for further advances".
"Overall, the pair maintains a choppy stance, as investors wait for tomorrow's FOMC decision and the possibility of another cut in QE before taking big chances".
Key Quotes
"Having been as low as 1.3628, the EUR/USD surged after US Durable Orders fell the most in five months in December, according to the latest release. The pair recovered the ground lost, surging back above 1.3660 and the hourly chart shows price aiming to recover above its 20 SMA while indicators point higher, right below their midlines".
"In the 4 hours chart price found support and bounced exactly from its 200 EMA, yet technical indicators maintain the negative tone seen earlier, which for now suggests not much room for further advances".
"Overall, the pair maintains a choppy stance, as investors wait for tomorrow's FOMC decision and the possibility of another cut in QE before taking big chances".