26 May 2015
EUR/USD bears target 1.0800 while below 1.0910 - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet, explained that EIR/USD is headed to 1.0800 while below 1.0910.
Key Quotes:
"Technically, the 1 hour chart shows that the price consolidates around its daily low, and below a bearish 20 SMA, whilst the technical indicators remain well into negative territory, albeit showing no directional strength. In the 4 hours chart the price has extended further below its moving averages, with the 20 SMA crossing towards the downside the 100 SMA in the 1.1030 region."
"In the same chart, the Momentum indicator aims higher below its mid-line, whilst the RSI continues to head lower, despite being around 26. As long as below the 1.0910 level, the downside is favored towards the 1.0800 level for this Wednesday."
Key Quotes:
"Technically, the 1 hour chart shows that the price consolidates around its daily low, and below a bearish 20 SMA, whilst the technical indicators remain well into negative territory, albeit showing no directional strength. In the 4 hours chart the price has extended further below its moving averages, with the 20 SMA crossing towards the downside the 100 SMA in the 1.1030 region."
"In the same chart, the Momentum indicator aims higher below its mid-line, whilst the RSI continues to head lower, despite being around 26. As long as below the 1.0910 level, the downside is favored towards the 1.0800 level for this Wednesday."