8 May 2015
EUR/USD might fall to 1.1150 – FXStreet
FXStreet (Barcelona) - Omkar Godbole, FXStreet Editor and Analyst, sees downside potential for EUR/USD towards 1.1150, with the pair failing to rise above 1.1223.
Key Quotes
“On the daily charts, we see a bearish piercing candle formation resulting in a daily close well below the 23.6% Fib retracement of the larger down trend from 1.3991-1.0461 located at 1.1293.”
“The pair is currently struggling to rise above 1.1223 (hourly 100-MA). Repeated failure to do so could send the pair lower to 1.1150 (hourly 20-MA).”
“On the other hand, a break above 1.1223 could see the pair re-test 1.1293. The outlook could turn bullish once again, in case, the pair manages to print a daily close above 1.1293 levels.”
Key Quotes
“On the daily charts, we see a bearish piercing candle formation resulting in a daily close well below the 23.6% Fib retracement of the larger down trend from 1.3991-1.0461 located at 1.1293.”
“The pair is currently struggling to rise above 1.1223 (hourly 100-MA). Repeated failure to do so could send the pair lower to 1.1150 (hourly 20-MA).”
“On the other hand, a break above 1.1223 could see the pair re-test 1.1293. The outlook could turn bullish once again, in case, the pair manages to print a daily close above 1.1293 levels.”