24 Mar 2015
EUR/USD over bought, yet indicators bullish - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted the technical conditions surrounding EUR/USD.
Key Quotes:
"From a technical point of view, the 1 hour chart shows that the price pressures the daily high whilst extending above its moving averages, whilst the Momentum indicator stands flat in positive territory and the RSI continues to head north, despite in overbought territory."
"In the 4 hours chart the technical indicators maintain a strong upward momentum, despite being in also in overbought territory, supporting additional advances towards the 1.1000 level, particularly on a break above the mentioned daily high."
Key Quotes:
"From a technical point of view, the 1 hour chart shows that the price pressures the daily high whilst extending above its moving averages, whilst the Momentum indicator stands flat in positive territory and the RSI continues to head north, despite in overbought territory."
"In the 4 hours chart the technical indicators maintain a strong upward momentum, despite being in also in overbought territory, supporting additional advances towards the 1.1000 level, particularly on a break above the mentioned daily high."