3 Feb 2015
EUR/USD likely to test 1.1360 levels – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, the EUR/USD pair is likely to test 1.1360 levels today, with technicals supporting the view.
Key Quotes
“The pair continues to move in a sideways channel visible on the hourly charts. The gains were capped around 1.1365 levels yesterday as anticipated, while the pair managed to sustain above the 1.13 levels.”
“The next major move depends on the breakout from the sideways channel (1.1360-1.1296). A breach of resistance at 1.1360 shall push the pair to 1.1420 levels. On the other hand, a break below 1.1296 shall open doors for a re-test of 1.1220 levels.”
“Meanwhile, a dip below 1.1320-1.1322 (hourly 100-SMA and 50-SMA) could see the pair test the channel support.”
“Given the daily RSI has just recovered from the oversold zone, the pair is more likely to test 1.1360 levels today.”
Key Quotes
“The pair continues to move in a sideways channel visible on the hourly charts. The gains were capped around 1.1365 levels yesterday as anticipated, while the pair managed to sustain above the 1.13 levels.”
“The next major move depends on the breakout from the sideways channel (1.1360-1.1296). A breach of resistance at 1.1360 shall push the pair to 1.1420 levels. On the other hand, a break below 1.1296 shall open doors for a re-test of 1.1220 levels.”
“Meanwhile, a dip below 1.1320-1.1322 (hourly 100-SMA and 50-SMA) could see the pair test the channel support.”
“Given the daily RSI has just recovered from the oversold zone, the pair is more likely to test 1.1360 levels today.”