Back
30 Jun 2014
EUR/USD 1.3735 next key target - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained how the dollar came off with not much behind the move.
Key Quotes:
“Dollar sold off on Monday, extending the decline of late past week with not much behind the move, but quarter end fixing, and in a minor way, affected an increased sentiment US recovery may not be enough to rise rates this year despite QE may come to an end”.
“The EUR/USD rose up to 1.3698 early US opening, triggering stops above the critical Fibonacci 1.3680 area, now immediate support. The common currency however, has been subdued compared to GBP or CHF probably on some cautious mode ahead of ECB later this week”.
“The hourly chart shows price near mentioned high and indicators losing their upward potential in overbought territory, far from suggesting a reversal. 20 SMA in the mentioned time frame has offered intraday support on retracements and maintains a strong bullish slope, currently around 1.3660”.
“The 4 hours chart…a strong upward momentum prevails, with market players now eyeing 1.3735, 50% retracement of this year rally and immediate target if 1.3700 is finally taken”.
Key Quotes:
“Dollar sold off on Monday, extending the decline of late past week with not much behind the move, but quarter end fixing, and in a minor way, affected an increased sentiment US recovery may not be enough to rise rates this year despite QE may come to an end”.
“The EUR/USD rose up to 1.3698 early US opening, triggering stops above the critical Fibonacci 1.3680 area, now immediate support. The common currency however, has been subdued compared to GBP or CHF probably on some cautious mode ahead of ECB later this week”.
“The hourly chart shows price near mentioned high and indicators losing their upward potential in overbought territory, far from suggesting a reversal. 20 SMA in the mentioned time frame has offered intraday support on retracements and maintains a strong bullish slope, currently around 1.3660”.
“The 4 hours chart…a strong upward momentum prevails, with market players now eyeing 1.3735, 50% retracement of this year rally and immediate target if 1.3700 is finally taken”.