10 Jul 2014
EUR/USD gives up all the ground added after FOMC - FXStreet
FXStreet Chief Analyst Valeria Bednarik observes that the EUR/USD gave up all the ground added after FOMC, with dollar and yen strongly up on risk aversion.
Key quotes
"Having warned on market complacency just yesterday, stocks entered a selling spiral that points for a strong and continued slide for today."
"As for the EUR/USD technical picture, the hourly chart shows price holding right above 1.3600 figure, while indicators lost some of the downward potential but remains well into negative territory."
"In the 4 hours chart indicators present a strong bearish tone, yet hover above their midlines, not yet signaling a continued slide."
"The base of the range at 1.3570/80 continues to be the level to break to confirm a continued slide in the pair."
Key quotes
"Having warned on market complacency just yesterday, stocks entered a selling spiral that points for a strong and continued slide for today."
"As for the EUR/USD technical picture, the hourly chart shows price holding right above 1.3600 figure, while indicators lost some of the downward potential but remains well into negative territory."
"In the 4 hours chart indicators present a strong bearish tone, yet hover above their midlines, not yet signaling a continued slide."
"The base of the range at 1.3570/80 continues to be the level to break to confirm a continued slide in the pair."