12 Feb 2014
Flash: EUR/USD exposed to further bearish momentum - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, FXStreet Chief Analyst notes that After faltering repeatedly to extend its gains over the last few days, the EUR/USD nosedived in the European session amid comments from ECB’s Couere regarding the Central Bank seriously considering negative deposit rates.
Key Quotes
“The pair sunk straight to hit a daily low of 1.3568 consolidating now near the fresh 3-day low. The hourly chart shows price now being capped by the 50% retracement of its latest bullish run measured from past Friday NFP low, and indicators standing in oversold territory, still maintaining a bearish slope.”
“In the 4 hours chart price broke below 200 EMA currently around 1.3610 while indicators turned flat around their midlines. Key support comes around 1.3550, former static resistance and 61.8% retracement of the same rally: a break below it should expose the downside, eyeing then 1.3470 this year low.”
“Support levels: 1.3550 1.3510 1.3470. Resistance levels: 1.3575 1.3610 1.3645.”
Key Quotes
“The pair sunk straight to hit a daily low of 1.3568 consolidating now near the fresh 3-day low. The hourly chart shows price now being capped by the 50% retracement of its latest bullish run measured from past Friday NFP low, and indicators standing in oversold territory, still maintaining a bearish slope.”
“In the 4 hours chart price broke below 200 EMA currently around 1.3610 while indicators turned flat around their midlines. Key support comes around 1.3550, former static resistance and 61.8% retracement of the same rally: a break below it should expose the downside, eyeing then 1.3470 this year low.”
“Support levels: 1.3550 1.3510 1.3470. Resistance levels: 1.3575 1.3610 1.3645.”