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15 May 2015
EUR/USD bearish correction can extend to 1.1280 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, views that EUR/USD correction might extend to 1.1280 on a break below the short-term support at 1.1340.
Key Quotes
“The EUR/USD 4 hours chart shows that the 20 SMA maintains its strong bullish slope around 1.1320, whilst the technical indicators head strongly lower, but well above their mid-lines.”
“The pair is nearing its immediate short term support at 1.1340, with a break below it probably signaling additional intraday declines towards the 1.1280 price zone.”
“To the upside, the first static resistance level comes at 1.1390, albeit the pair needs to extend beyond the next one, at 1.1430 to recover its bullish momentum and attempt an approach to the 1.1500 figure.”
Key Quotes
“The EUR/USD 4 hours chart shows that the 20 SMA maintains its strong bullish slope around 1.1320, whilst the technical indicators head strongly lower, but well above their mid-lines.”
“The pair is nearing its immediate short term support at 1.1340, with a break below it probably signaling additional intraday declines towards the 1.1280 price zone.”
“To the upside, the first static resistance level comes at 1.1390, albeit the pair needs to extend beyond the next one, at 1.1430 to recover its bullish momentum and attempt an approach to the 1.1500 figure.”