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20 Apr 2015
EUR/USD: 1.0850 a short-term top? – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, comments that EUR/USD outlook remains bearish as long as the pair remains below 1.0865 levels.
Key Quotes
“On the charts, we see the pair is hovering around 1.0776, which is the 50% Fib retracement level of 1.1034-1.0519. The failure to rise back above the same could drive the pair lower to 1.0723 (rising trend line support on the hourly chart).”
“Moreover, the RSI on the hourly has turned bearish, indicating more room to fall.”
“As per 4-hour chart, the sell-off could be intense once the pair dips below its 200-MA at 1.0767. Apparently, losses are being capped at the same levels at the time of writing.”
“The outlook stays bearish, with EUR bulls likely to gain an upper hand only above its 50-DMA currently located at 1.0865 levels.”
Key Quotes
“On the charts, we see the pair is hovering around 1.0776, which is the 50% Fib retracement level of 1.1034-1.0519. The failure to rise back above the same could drive the pair lower to 1.0723 (rising trend line support on the hourly chart).”
“Moreover, the RSI on the hourly has turned bearish, indicating more room to fall.”
“As per 4-hour chart, the sell-off could be intense once the pair dips below its 200-MA at 1.0767. Apparently, losses are being capped at the same levels at the time of writing.”
“The outlook stays bearish, with EUR bulls likely to gain an upper hand only above its 50-DMA currently located at 1.0865 levels.”