10 Feb 2015
EUR/USD stuck in range – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that EUR/USD has recovered ground, bouncing off the daily low at 1.1272 levels, with immediate resistance now at 1.1315, above which the pair might move towards 1.1360/70 levels.
Key Quotes
“The EUR/USD pair bounces from a daily low of 1.1272 as stocks change course before the closing bell: European indexes advanced sharply while US futures point for a positive opening, as market get rumors the European Commission is working out a solution with Greece. There was a comment on a 6-month extension and the reorganization of Troika, although nothing formal just yet.”
“10Y yields in the US surged above 2.0%, affecting particularly safe-haven yen, down against most of its rivals."
“The EUR/USD has recovered ground amid market relief and demand of riskier assets, although technically, there's not much supporting a stronger recovery, as the 1 hour chart shows that the price remains capped below a bearish 20 SMA, while indicators stand in negative territory.”
“In the 4 hours chart, the price remains below a bearish 20 SMA whilst indicators hold below their midlines, but lost their downward strength, now for the most flat.”
“The immediate resistance comes at 1.1315, 50% retracement of its latest bullish run, with a break above favoring a recovery up to 1.1360/70 price zone.”
Key Quotes
“The EUR/USD pair bounces from a daily low of 1.1272 as stocks change course before the closing bell: European indexes advanced sharply while US futures point for a positive opening, as market get rumors the European Commission is working out a solution with Greece. There was a comment on a 6-month extension and the reorganization of Troika, although nothing formal just yet.”
“10Y yields in the US surged above 2.0%, affecting particularly safe-haven yen, down against most of its rivals."
“The EUR/USD has recovered ground amid market relief and demand of riskier assets, although technically, there's not much supporting a stronger recovery, as the 1 hour chart shows that the price remains capped below a bearish 20 SMA, while indicators stand in negative territory.”
“In the 4 hours chart, the price remains below a bearish 20 SMA whilst indicators hold below their midlines, but lost their downward strength, now for the most flat.”
“The immediate resistance comes at 1.1315, 50% retracement of its latest bullish run, with a break above favoring a recovery up to 1.1360/70 price zone.”