28 May 2014
EUR/USD trading on uncertain grounds - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted in an article headed, "EUR/USD: back where it started", that the price action around the EUR/USD that continues to trade with a negative bias but uncertainty in playing its part.
Key Quotes:
“The EUR/USD has moved back and forth this Tuesday, but still confined to familiar ranges, edging pretty much where it started, around its 200 DMA”.
“With dollar fuelled by an impressive drop in gold prices, down nearly $30 bucks on the day, with the EUR/USD reaching 1.3612 as daily low”.
“However, weakening US yields along with short covering helped the pair recover some ground, down on the day just 0.8%”.
“Price still below a bearish 20 SMA which keeps bears in the drivers’ seat”.
“Daily candle is about to confirm a doji, reflecting the uncertainty surrounding the pair right now”.
Key Quotes:
“The EUR/USD has moved back and forth this Tuesday, but still confined to familiar ranges, edging pretty much where it started, around its 200 DMA”.
“With dollar fuelled by an impressive drop in gold prices, down nearly $30 bucks on the day, with the EUR/USD reaching 1.3612 as daily low”.
“However, weakening US yields along with short covering helped the pair recover some ground, down on the day just 0.8%”.
“Price still below a bearish 20 SMA which keeps bears in the drivers’ seat”.
“Daily candle is about to confirm a doji, reflecting the uncertainty surrounding the pair right now”.