23 Dec 2014
EUR/USD bears may push the pair to 1.2132 levels – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, the EUR/USD bears might push the pair lower towards 1.2132 levels if the pair fails to sustain above 1.22 levels, the pair currently trades largely unchanged after failing to extend gains above 1.2270 levels.
Key Quotes
“No major action is being witnessed today as the pair continues to hover around 1.2230 levels.”
“The daily RSI continues to be bearish at 38.42 levels. On the hourly chart, the 50-SMA located today at 1.2249 levels is likely to act as a strong resistance. Moreover, the pair faced rejection at the 50-SMA yesterday post which the pair declined to 1.2226 levels.”
“Meanwhile, a fresh demand for the Euros can be anticipated once the pair rises above the 200-month moving average located at 1.2230 levels. In such a case the pair could rise to 1.2249 and 1.2274 levels.”
“Further gains can be seen if the pair breaches resistance at 1.2274; double bottom breakout; opening doors for a re-test of 1.2320 levels.”
“On the other hand, the EUR bears may push the pair to 1.2132 levels, if the pair fails to sustain above 1.22 levels.”
Key Quotes
“No major action is being witnessed today as the pair continues to hover around 1.2230 levels.”
“The daily RSI continues to be bearish at 38.42 levels. On the hourly chart, the 50-SMA located today at 1.2249 levels is likely to act as a strong resistance. Moreover, the pair faced rejection at the 50-SMA yesterday post which the pair declined to 1.2226 levels.”
“Meanwhile, a fresh demand for the Euros can be anticipated once the pair rises above the 200-month moving average located at 1.2230 levels. In such a case the pair could rise to 1.2249 and 1.2274 levels.”
“Further gains can be seen if the pair breaches resistance at 1.2274; double bottom breakout; opening doors for a re-test of 1.2320 levels.”
“On the other hand, the EUR bears may push the pair to 1.2132 levels, if the pair fails to sustain above 1.22 levels.”