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3 Jun 2014
EUR/USD comes with mild bullish tone – FXStreet
FXStreet (Guatemala) - Valeria Bednarik, Chief Analyst with FXStreet explained the EUR/USD has had little to offer in a journey were nothing new came at least from price action while short term price action looks bullish.
Key Quotes:
“European currencies held again within limited, familiar ranges, with early data showing another setback in European inflation, down to 0.5% yearly basis”.
“The common currency found some intraday favor, bouncing from sub 1.36 up to test its 200 DMA around 1.3640 where it stalled for fifth day in a row”.
“Market is getting thinner daily basis ahead of ECB on Thursday, and despite EU GDP release on Wednesday, range will likely prevail”.
“short term the hourly chart presents a mild bullish tone as per price advancing above moving average and indicators holding above their midlines, albeit now losing some of their upward potential”.
“In the 4 hours chart the neutral outlook remains intact with the pair expected to trade in between 1.3570 and 1.3680 for the upcoming 24 hours”.
Key Quotes:
“European currencies held again within limited, familiar ranges, with early data showing another setback in European inflation, down to 0.5% yearly basis”.
“The common currency found some intraday favor, bouncing from sub 1.36 up to test its 200 DMA around 1.3640 where it stalled for fifth day in a row”.
“Market is getting thinner daily basis ahead of ECB on Thursday, and despite EU GDP release on Wednesday, range will likely prevail”.
“short term the hourly chart presents a mild bullish tone as per price advancing above moving average and indicators holding above their midlines, albeit now losing some of their upward potential”.
“In the 4 hours chart the neutral outlook remains intact with the pair expected to trade in between 1.3570 and 1.3680 for the upcoming 24 hours”.