23 Jul 2015
EUR/USD: 1.1120 on the cards? - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the common currency advanced on Thursday, regaining the 1.1000 level against the greenback.
Key Quotes:
"Boosted during the European opening, by news that Greece passed a second bill of policy measures demanded by the rest of the EU, in order to access a third bailout of €86B."
"The EUR/USD pair rose up to 1.1017 before better-than-expected US weekly unemployment claims helped the American dollar to bounce some. According to official data, jobless claims plunged to 255,000 in the week ended July 18, the fewest since November 1973. Anyway, buyers surged on a dip towards 1.0950, sending the pair back towards its daily high before the closing bell.
"Short term, the 1 hour chart shows that the 20 SMA advanced above the 100 and 200 SMAs, and maintains a strong bullish slope below the current level, acting as an intraday support around 1.0970."
"In the same chart, the technical indicators are losing their upward momentum, but remain above their mid-lines, far from suggesting a downward corrective move"
"In the 4 hours chart the Momentum indicator is retreating partially from overbought levels, whilst the RSI continues to head higher around 62. There is a strong static resistance level around 1.1045, and large stops are likely to be above it, which means that if triggered, the upward rally can accelerate towards 1.1120 this Friday."
Key Quotes:
"Boosted during the European opening, by news that Greece passed a second bill of policy measures demanded by the rest of the EU, in order to access a third bailout of €86B."
"The EUR/USD pair rose up to 1.1017 before better-than-expected US weekly unemployment claims helped the American dollar to bounce some. According to official data, jobless claims plunged to 255,000 in the week ended July 18, the fewest since November 1973. Anyway, buyers surged on a dip towards 1.0950, sending the pair back towards its daily high before the closing bell.
"Short term, the 1 hour chart shows that the 20 SMA advanced above the 100 and 200 SMAs, and maintains a strong bullish slope below the current level, acting as an intraday support around 1.0970."
"In the same chart, the technical indicators are losing their upward momentum, but remain above their mid-lines, far from suggesting a downward corrective move"
"In the 4 hours chart the Momentum indicator is retreating partially from overbought levels, whilst the RSI continues to head higher around 62. There is a strong static resistance level around 1.1045, and large stops are likely to be above it, which means that if triggered, the upward rally can accelerate towards 1.1120 this Friday."