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3 Jun 2014
EUR/USD technically bearish until… - RBS
FXStreet (Guatemala) - Dmytro Bondar, Technical Analyst at RBS offered his analysis on the EUR/USD.
Key Quotes:
“The EUR/USD has reached my 1st target of 1.3592, as it has been hanging around the lower Bollinger band”.
“The current range of 1.3592 – 1.3650 formed by Fibonacci projections from the May impulse wave still sees more chances of a downside breakout rather than upside. If so, there sill be a good chance
of reaching the ultimate 1.3500 target, which stands out as a key projection from the same move”.
“A sustained break above the range (above 1.3650) changes the view and makes the pair bullish towards 1.3745”.
Key Quotes:
“The EUR/USD has reached my 1st target of 1.3592, as it has been hanging around the lower Bollinger band”.
“The current range of 1.3592 – 1.3650 formed by Fibonacci projections from the May impulse wave still sees more chances of a downside breakout rather than upside. If so, there sill be a good chance
of reaching the ultimate 1.3500 target, which stands out as a key projection from the same move”.
“A sustained break above the range (above 1.3650) changes the view and makes the pair bullish towards 1.3745”.