11 Feb 2015
EUR/USD likely to break lower – FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, the EUR/USD pair is likely to break lower from its 1.1350-1.1270 range and move towards 1.1220 levels.
Key quotes
“The EUR/USD pair formed a Doji candle as it finished largely unchanged at 1.1316 levels. Overall the pair remained restricted in the range of 1.1350-1.1270."
“The pair could drop to 1.1220 levels if it breaks the lower end of the range at 1.1270.”
“On the other hand, a fresh demand for Euros can be anticipated above 1.1350 levels. In such a case, the pair could rise to 1.14 levels.”
“Moreover, the pair has repeatedly failed to sustain gains above the weekly 5-SMA at 1.1338. The hourly RSI too, has turned bearish below 50.00 levels. Thus, the pair is more likely to give a downside breakout from the range.”
Key quotes
“The EUR/USD pair formed a Doji candle as it finished largely unchanged at 1.1316 levels. Overall the pair remained restricted in the range of 1.1350-1.1270."
“The pair could drop to 1.1220 levels if it breaks the lower end of the range at 1.1270.”
“On the other hand, a fresh demand for Euros can be anticipated above 1.1350 levels. In such a case, the pair could rise to 1.14 levels.”
“Moreover, the pair has repeatedly failed to sustain gains above the weekly 5-SMA at 1.1338. The hourly RSI too, has turned bearish below 50.00 levels. Thus, the pair is more likely to give a downside breakout from the range.”