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3 Jun 2014
EUR/USD risks to the downside intact - FXStreet
FXStreet (Bali) - EUR/USD risks remain to the downside, according to Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"There’s extra pressure over ECB to deliver action this week, and thus EURUSD risk remains clearly to the downside."
"The pair held above 1.3570 immediate support, with the hourly chart showing a mild bearish tone coming from indicators holding in negative territory, and price developing below moving averages."
"In the 4h chart indicators head lower in neutral territory, while 20 SMA maintains a bearish slope albeit price moves around it without being able to accelerate lower."
"As commented on previous updates, it would be hard to see price moving too far away until ECB on Thursday, by EU inflation and GDP readings to be release ahead of it on Tuesday and Wednesday respectively would indeed gave some clues on what’s next."
Key Quotes
"There’s extra pressure over ECB to deliver action this week, and thus EURUSD risk remains clearly to the downside."
"The pair held above 1.3570 immediate support, with the hourly chart showing a mild bearish tone coming from indicators holding in negative territory, and price developing below moving averages."
"In the 4h chart indicators head lower in neutral territory, while 20 SMA maintains a bearish slope albeit price moves around it without being able to accelerate lower."
"As commented on previous updates, it would be hard to see price moving too far away until ECB on Thursday, by EU inflation and GDP readings to be release ahead of it on Tuesday and Wednesday respectively would indeed gave some clues on what’s next."