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22 Apr 2015
EUR/USD sellers lined up for an attack - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet, noted the technical conditions around EUR/USD's overnight performance.
Key Quotes:
"Technically, the 1 hour chart shows that the price is retreating from the 50% retracement of its latest bearish run, as the price hovers around a mild bullish 100 SMA.:
"In the same chart, the 20 SMA offers support around 1.0715, converging with the 38.2% retracement of the same rally, while the technical indicators turned lower in positive territory towards their mid-lines."
"In the 4 hours chart the previous candle presents a long upward wick, which reflects sellers are still willing to intervene on spike higher, whilst the technical indicators stand directionless below their mid-lines, maintaining the upside limited."
Key Quotes:
"Technically, the 1 hour chart shows that the price is retreating from the 50% retracement of its latest bearish run, as the price hovers around a mild bullish 100 SMA.:
"In the same chart, the 20 SMA offers support around 1.0715, converging with the 38.2% retracement of the same rally, while the technical indicators turned lower in positive territory towards their mid-lines."
"In the 4 hours chart the previous candle presents a long upward wick, which reflects sellers are still willing to intervene on spike higher, whilst the technical indicators stand directionless below their mid-lines, maintaining the upside limited."