22 Dec 2014
Quiet range expected for EUR/USD – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, explains that the overall bearish trend for EUR/USD remains firm, but with holiday season in, the pair will likely remain confined to the 1.22/23 range.
Key Quotes
“The EUR/USD pair bounced from its year low of 1.2219, extending up to 1.2272 early in the European session. But volume has gone on holidays and the pair trades in slow motion within Friday’s range. From the fundamental side, the only data released in the EZ was German import price index, down yearly basis 2.1%, below market expectations of a 1.9% drop.“
“Technically, the 4 hours chart shows indicators recovering from oversold levels, but well below its moving averages, with 20 SMA presenting a strong bearish slope above currently around 1.2300. The overall bearish trend remains firm in place, although not much action should be expected these days, with the pair most likely confined to the 1.22/23 range.”
Key Quotes
“The EUR/USD pair bounced from its year low of 1.2219, extending up to 1.2272 early in the European session. But volume has gone on holidays and the pair trades in slow motion within Friday’s range. From the fundamental side, the only data released in the EZ was German import price index, down yearly basis 2.1%, below market expectations of a 1.9% drop.“
“Technically, the 4 hours chart shows indicators recovering from oversold levels, but well below its moving averages, with 20 SMA presenting a strong bearish slope above currently around 1.2300. The overall bearish trend remains firm in place, although not much action should be expected these days, with the pair most likely confined to the 1.22/23 range.”