26 Jun 2014
EUR/USD: Mild bullish tone prevails - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, a mild bullish tone still prevails in the EUR/USD short term.
Key Quotes
"The EUR/USD reached critical 1.3640/50 price zone, but failed to extend gains beyond it, holding however above former weekly high of 1.3627."
"Technically, a mild bullish tone prevails in the short term, as per indicators holding in positive territory and price above a bullish 20 SMA, yet the movement has not been enough to confirm the break higher, with the pair barely consolidating over US session."
"However, risk to the downside has somehow diminished with price a bit further from 1.3570 support area. Main resistance above mentioned high is as usual, 1.3680, 61.8% retracement of this year rally."
Key Quotes
"The EUR/USD reached critical 1.3640/50 price zone, but failed to extend gains beyond it, holding however above former weekly high of 1.3627."
"Technically, a mild bullish tone prevails in the short term, as per indicators holding in positive territory and price above a bullish 20 SMA, yet the movement has not been enough to confirm the break higher, with the pair barely consolidating over US session."
"However, risk to the downside has somehow diminished with price a bit further from 1.3570 support area. Main resistance above mentioned high is as usual, 1.3680, 61.8% retracement of this year rally."