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23 Feb 2015
EUR/USD next stop 1.1200? – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares the technical outlook for EUR/USD, noting that a break below 1.1250 could drag the pair lower towards 1.1200.
Key Quotes
“The technical picture according to the 4 hours chart favors the downside, as the price extends below its 20 SMA and the 200 EMA, both converging around 1.1380, while the technical indicators accelerate south below their midlines.”
“A break below the 1.1300 figure should lead to an approach to the 1.1250 price zone, while a break below this last should trigger stops and see the slide extending down to 1.1200.”
“To the upside, only above the mentioned 1.1380 area the pair may have a chance to recover, up to mentioned 1.1440, although at this point, spikes should be seen as selling opportunities rather than a confirmation of further recoveries.”
Key Quotes
“The technical picture according to the 4 hours chart favors the downside, as the price extends below its 20 SMA and the 200 EMA, both converging around 1.1380, while the technical indicators accelerate south below their midlines.”
“A break below the 1.1300 figure should lead to an approach to the 1.1250 price zone, while a break below this last should trigger stops and see the slide extending down to 1.1200.”
“To the upside, only above the mentioned 1.1380 area the pair may have a chance to recover, up to mentioned 1.1440, although at this point, spikes should be seen as selling opportunities rather than a confirmation of further recoveries.”