23 Jul 2014
EUR/USD consolidating its latest losses - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the EUR/USD is consolidating its latest losses , trading in a tight 20 pips range below former year low of 1.3476, level that capped the upside so far today.
Key quotes
"With no fundamental data to lead the way, EU consumer confidence and US crude stocks may bring some action later today, albeit seems we are going nowhere far."
"Technically, the bearish bias remains favored with price hovering around a bearish 20 SMA and indicators turning lower around their midlines."
"In the 4 hours chart technical readings also favor the downside, with a break below 1.3440/50 area required to confirm a new leg down."
Key quotes
"With no fundamental data to lead the way, EU consumer confidence and US crude stocks may bring some action later today, albeit seems we are going nowhere far."
"Technically, the bearish bias remains favored with price hovering around a bearish 20 SMA and indicators turning lower around their midlines."
"In the 4 hours chart technical readings also favor the downside, with a break below 1.3440/50 area required to confirm a new leg down."