18 Nov 2014
20-day SMA offers resistance to the EUR/USD pair - FXStreet
FXStreet (Barcelona) - Ani Salama, Analyst at FXStreet, notes the EUR/USD pair trading firmer today with the short-term charts suggesting a positive tone for the pair.
Key Quotes
“Technically, EUR/USD holds a positive tone in short-term charts, with indicators heading higher above their midlines and price holding above the 1.25 mark, bringing the focus on the upside.”
“A break above the 20-day SMA, which is offering resistance at 1.2540, would support a move higher toward 1.2576 (Nov 17 high) en route to 1.2600.”
“However, on the longer-term, EUR/USD remains vulnerable trading near multi-month lows.”
“A break below recent lows in the 1.2440 area, would resume the broader bearish trend, with 1.2400 (psychological level) and 1.2357 (2014 low Nov 7) as next targets.”
Key Quotes
“Technically, EUR/USD holds a positive tone in short-term charts, with indicators heading higher above their midlines and price holding above the 1.25 mark, bringing the focus on the upside.”
“A break above the 20-day SMA, which is offering resistance at 1.2540, would support a move higher toward 1.2576 (Nov 17 high) en route to 1.2600.”
“However, on the longer-term, EUR/USD remains vulnerable trading near multi-month lows.”
“A break below recent lows in the 1.2440 area, would resume the broader bearish trend, with 1.2400 (psychological level) and 1.2357 (2014 low Nov 7) as next targets.”