26 May 2015
EUR/USD might drop to 1.0846 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, expects EUR/USD to dip towards 1.0846 on a break below 1.09.
Key Quotes
“A loss of downside momentum due to oversold RSI on the hourly and 4-hour charts may keep the pair above 1.09 and lead to consolidation in the range of 1.09-1.0963 ahead of the US durable goods orders report.”
“On the upside, a break above 1.0963 (50% R of 1.0461-1.1465) could see another minor rally to 1.1014 (hourly 200-MA).”
“Meanwhile, a break below 1.09 could shift risk in favor of a further drop to 1.0846 (61.8% R of 1.0461-1.1465).”
Key Quotes
“A loss of downside momentum due to oversold RSI on the hourly and 4-hour charts may keep the pair above 1.09 and lead to consolidation in the range of 1.09-1.0963 ahead of the US durable goods orders report.”
“On the upside, a break above 1.0963 (50% R of 1.0461-1.1465) could see another minor rally to 1.1014 (hourly 200-MA).”
“Meanwhile, a break below 1.09 could shift risk in favor of a further drop to 1.0846 (61.8% R of 1.0461-1.1465).”