1 Dec 2014
EUR/USD technicals maintain the negative tone – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, the 4 hour technical charts maintain the negative tone for the EUR/USD pair, which is trading in the 1.2400 - 1.2520 range.
Key Quotes
“EUR/USD pair trades near its daily high of 1.2474 despite local Markit manufacturing PMIs resulted a big miss: EZ PMI was down to 50.1, German printed 49.5 and Italy and France ones resulted both below 50.”
“Technically however, the 4 hours chart maintains the negative tone with price finding intraday resistance around 20 SMA, flat and converging with 100 one around mentioned daily high, whilst indicators remain below their midlines.”
“Trading mid range, the pair remains contained between 1.2400 and 1.2520, the levels to break to see it setting a more directional move over the upcoming sessions.”
Key Quotes
“EUR/USD pair trades near its daily high of 1.2474 despite local Markit manufacturing PMIs resulted a big miss: EZ PMI was down to 50.1, German printed 49.5 and Italy and France ones resulted both below 50.”
“Technically however, the 4 hours chart maintains the negative tone with price finding intraday resistance around 20 SMA, flat and converging with 100 one around mentioned daily high, whilst indicators remain below their midlines.”
“Trading mid range, the pair remains contained between 1.2400 and 1.2520, the levels to break to see it setting a more directional move over the upcoming sessions.”