18 Feb 2015
EUR/USD to trade choppy till the Greek fiasco clears – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet , gives the technical outlook for EUR/USD, expecting the pair to trade choppy till the Eurogroup-Greece talks concludes.
Key Quotes
“According to the latest news, the next chapter is that the Greek government would ask for an extension to its loan agreement, different from its full bailout program.“
“Technically, the 4 hours chart shows a well limited range, with a daily ascendant trend line coming from 1.1097 offering intraday support around 1.1340, and a shorter descendant trend line capping the upside in the 1.1440 price zone, also a strong static resistance level.”
“The price hovers around a flat 20 SMA while the Momentum indicator stands flat around 100, giving no signs of directional strength.”
“A break through any of both trend lines should trigger a 30/50 pips continuation, although the pair will likely remain choppy until an agreement, or not, is reached.”
Key Quotes
“According to the latest news, the next chapter is that the Greek government would ask for an extension to its loan agreement, different from its full bailout program.“
“Technically, the 4 hours chart shows a well limited range, with a daily ascendant trend line coming from 1.1097 offering intraday support around 1.1340, and a shorter descendant trend line capping the upside in the 1.1440 price zone, also a strong static resistance level.”
“The price hovers around a flat 20 SMA while the Momentum indicator stands flat around 100, giving no signs of directional strength.”
“A break through any of both trend lines should trigger a 30/50 pips continuation, although the pair will likely remain choppy until an agreement, or not, is reached.”