24 Mar 2015
EUR/USD might see additional gains above 1.1000 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes EUR/USD technicals support additional advances for the pair, anticipating a break above 1.1000 to pave way for 1.1041.
Key Quotes
“Technically the 4 hours chart shows that the Momentum indicator heads strongly north following a limited correction from overbought levels, while the RSI also heads higher around 69, supporting some additional advances, particularly if the price manages to break above the 1.1000 level.”
“In that case, the post-FOMC high at 1.1041 comes as the immediate short term bullish target, while if the price advances above this last, the pair can extend up to the 1.1080/90 price zone.”
“To the downside, the immediate short term support stands at 1.0960, with a slide below it probably seeing the pair extending down to the 1.0920 price zone, the probable bottom for today.”
Key Quotes
“Technically the 4 hours chart shows that the Momentum indicator heads strongly north following a limited correction from overbought levels, while the RSI also heads higher around 69, supporting some additional advances, particularly if the price manages to break above the 1.1000 level.”
“In that case, the post-FOMC high at 1.1041 comes as the immediate short term bullish target, while if the price advances above this last, the pair can extend up to the 1.1080/90 price zone.”
“To the downside, the immediate short term support stands at 1.0960, with a slide below it probably seeing the pair extending down to the 1.0920 price zone, the probable bottom for today.”