9 Mar 2015
EUR/USD sellers maintain the lead – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, gives the technical outlook and key levels for EUR/USD, noting that the pair will remain under selling pressure.
Key Quotes
“The EUR/USD pair trades a few pips above its daily opening, having found sellers on an early spike towards the 1.0900 level. So far this Monday has been quite smooth, with little fundamental figures capable of triggering strong moves across the board.”
“The ECB has started buying bonds today, but so far there were no impressive headlines on the matter.”
“Technically, the 1 hour chart shows that the price hovers around a flat 20 SMA, whilst the technical indicators are also flat in neutral territory, showing no short term directional strength.”
“In the 4 hours chart however, the bearish bias prevails, with the technical indicators losing upward strength after a limited correction of extreme oversold readings whilst the 20 SMA maintains a strong bearish slope well above the current price, all of which suggests the pair will remain under selling pressure.”
“Support levels: 1.0840 1.0805 1.0760”
“Resistance levels: 1.0890 1.0925 1.0960”
Key Quotes
“The EUR/USD pair trades a few pips above its daily opening, having found sellers on an early spike towards the 1.0900 level. So far this Monday has been quite smooth, with little fundamental figures capable of triggering strong moves across the board.”
“The ECB has started buying bonds today, but so far there were no impressive headlines on the matter.”
“Technically, the 1 hour chart shows that the price hovers around a flat 20 SMA, whilst the technical indicators are also flat in neutral territory, showing no short term directional strength.”
“In the 4 hours chart however, the bearish bias prevails, with the technical indicators losing upward strength after a limited correction of extreme oversold readings whilst the 20 SMA maintains a strong bearish slope well above the current price, all of which suggests the pair will remain under selling pressure.”
“Support levels: 1.0840 1.0805 1.0760”
“Resistance levels: 1.0890 1.0925 1.0960”