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4 Jun 2014
EUR/USD awaiting further impetus
FXStreet (Guatemala) - EUR/USD is trading at 1.3625, down -0.01% on the day, having posted a daily high at 1.3630 and low at 1.3625.
EUR/USD has resumed to sit quietly after bouncing in Europe from below 1.3600 up to test the 200 DMA around 1.3640 where it stalled again and now trades a touch lower on a quiet, but tentative Asian looking market. RBS strategists noted that today and tomorrow are about 'Waiting for Mario' For EUR FX that means assessing how much of what ECB will do Thursday is already discounted. We suspect the answer is most, if not all. Street analysts generally want to be short EUR/USD so we marginally prefer the long side – but it is marginal. Meanwhile, Valeria Bednarik - Chief Analyst with FXStreet looked technical and explained that, in the short term, the hourly chart presents a mild bullish tone as per price advancing above moving average and noted that the indicators holding above their midlines, saying, 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”.
EUR/USD levels
Spot is presently trading at 1.3627, and next resistance can be seen at 1.3628 (Daily Open), 1.3630 (Weekly Classic PP), 1.3630 (Daily High),1.3635 (Weekly High) and 1.3644 (Daily 200 SMA). Next support to the downside can be found at 1.3627 (Daily Classic R1), 1.3625 (Hourly 200 SMA), 1.3625 (Daily Low), 1.3620 (Hourly 20 EMA) and 1.3611 (Hourly 100 SMA).
EUR/USD has resumed to sit quietly after bouncing in Europe from below 1.3600 up to test the 200 DMA around 1.3640 where it stalled again and now trades a touch lower on a quiet, but tentative Asian looking market. RBS strategists noted that today and tomorrow are about 'Waiting for Mario' For EUR FX that means assessing how much of what ECB will do Thursday is already discounted. We suspect the answer is most, if not all. Street analysts generally want to be short EUR/USD so we marginally prefer the long side – but it is marginal. Meanwhile, Valeria Bednarik - Chief Analyst with FXStreet looked technical and explained that, in the short term, the hourly chart presents a mild bullish tone as per price advancing above moving average and noted that the indicators holding above their midlines, saying, 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”.
EUR/USD levels
Spot is presently trading at 1.3627, and next resistance can be seen at 1.3628 (Daily Open), 1.3630 (Weekly Classic PP), 1.3630 (Daily High),1.3635 (Weekly High) and 1.3644 (Daily 200 SMA). Next support to the downside can be found at 1.3627 (Daily Classic R1), 1.3625 (Hourly 200 SMA), 1.3625 (Daily Low), 1.3620 (Hourly 20 EMA) and 1.3611 (Hourly 100 SMA).