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29 Dec 2014
EUR/USD may see a short term upside advance – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, the EUR/USD pair might see a short term advance upto the 1.2275 price zone, with (1H and 4H) technicals supporting a positive move.
Key Quotes
“The EUR/USD pair trades uneventfully around the 1.2200 level, despite increasing turmoil coming from Greece. The ruling party failed to gathered support in the third ballot, triggering snap presidential elections in the country.”
“Year-end holidays keep volumes at their lowest since last August, the main reason of the ongoing lack of action across the forex board.”
“Technically, the 1 hour chart shows that the price trades above its 20 SMA but seems unable to establish above 100 SMA, whilst indicators head higher above their midlines, supporting some further short term advances.”
“In the 4 hours chart technical readings also present a mild positive tone, although without actual momentum at the time being.”
“Further recoveries may extend up to the 1.2275 price zone, albeit further range trading should be expected for this whole week.”
Key Quotes
“The EUR/USD pair trades uneventfully around the 1.2200 level, despite increasing turmoil coming from Greece. The ruling party failed to gathered support in the third ballot, triggering snap presidential elections in the country.”
“Year-end holidays keep volumes at their lowest since last August, the main reason of the ongoing lack of action across the forex board.”
“Technically, the 1 hour chart shows that the price trades above its 20 SMA but seems unable to establish above 100 SMA, whilst indicators head higher above their midlines, supporting some further short term advances.”
“In the 4 hours chart technical readings also present a mild positive tone, although without actual momentum at the time being.”
“Further recoveries may extend up to the 1.2275 price zone, albeit further range trading should be expected for this whole week.”