30 Apr 2015
EUR/USD risk tilted to the upside – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals remains supportive for further upside in EUR/USD.
Key Quotes
“Technically, the 1 hour chart shows that the price holds well above its 20 SMA, whilst the technical indicators have corrected extreme overbought readings and head higher in positive territory, keeping the risk towards the upside.”
“In the 4 hours chart the technical indicators continue to head north despite in overbought territory, whilst the 20 SMA converges with the 50% retracement of the bearish run between 1.1533 and 1.0461, around 1.1000. The first round of strong buying interest stands at 1.1120, the 61.8% retracement of the same rally.”
“Support levels: 1.1160 1.1120 1.1080”
“Resistance levels: 1.1230 1.1280 1.1315”
Key Quotes
“Technically, the 1 hour chart shows that the price holds well above its 20 SMA, whilst the technical indicators have corrected extreme overbought readings and head higher in positive territory, keeping the risk towards the upside.”
“In the 4 hours chart the technical indicators continue to head north despite in overbought territory, whilst the 20 SMA converges with the 50% retracement of the bearish run between 1.1533 and 1.0461, around 1.1000. The first round of strong buying interest stands at 1.1120, the 61.8% retracement of the same rally.”
“Support levels: 1.1160 1.1120 1.1080”
“Resistance levels: 1.1230 1.1280 1.1315”