20 Jan 2015
EUR/USD in the bears layer ahead of ECB - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair that traded for most of the day below the 1.1600 level.
Key Quotes:
"The range will likely prevail on Wednesday, with the pair contained between 1.15 and 1.16 ahead of the ECB decision on Thursday."
"In the meantime, the short term picture presents a mild bearish tone, with the 1 hour chart showing the price is extending below its 20 SMA as indicators aim lower in negative territory."
"In the 4 hours chart 20 SMA continued to cap the upside, now around 1.1595, whilst indicators present a tepid bearish slope below their midlines, supporting the downside despite lacking momentum."
Key Quotes:
"The range will likely prevail on Wednesday, with the pair contained between 1.15 and 1.16 ahead of the ECB decision on Thursday."
"In the meantime, the short term picture presents a mild bearish tone, with the 1 hour chart showing the price is extending below its 20 SMA as indicators aim lower in negative territory."
"In the 4 hours chart 20 SMA continued to cap the upside, now around 1.1595, whilst indicators present a tepid bearish slope below their midlines, supporting the downside despite lacking momentum."