Back
8 Sep 2015
EUR/USD headed toward another close around 1.1150
FXStreet (Córdoba) - The euro failed to hold to gains versus the US dollar and is about to end the day near the 1.1150 area, where it closed the previous two trading days.
EUR/USD remains unable to move off the 1.1150 area. The upside today was capped by 1.1200 during the American session while earlier it reached 1.1227 and then retreated.
“The 200-day MA around $1.1265 is another obstacle ahead. We think Draghi made it quite clear that a stronger euro was neither likely nor desired at the ECB meeting last week, and continue to favor the downside. Here, 1.10 will provide some formidable support for the euro. We do think the monetary policy divergence theme remains alive after last week’s events”, wrote analysts from Brown Brothers Harriman.
EUR/USD looking for direction
Currently it trades at 1.1165/70, practically flat for the day. The pair still holds a modestly bullish tone in the very short-term as it recovers from Thursday’s decline to 1.1086 following Draghi’s press conference.
On a wider perspective, the pair continues to consolidate after plunging late in August. Price remain below the daily 20-SMA that stands around 1.1250, a break higher could reinforce the upside, while to the downside a close below 1.1100 could boost the US dollar.
EUR/USD remains unable to move off the 1.1150 area. The upside today was capped by 1.1200 during the American session while earlier it reached 1.1227 and then retreated.
“The 200-day MA around $1.1265 is another obstacle ahead. We think Draghi made it quite clear that a stronger euro was neither likely nor desired at the ECB meeting last week, and continue to favor the downside. Here, 1.10 will provide some formidable support for the euro. We do think the monetary policy divergence theme remains alive after last week’s events”, wrote analysts from Brown Brothers Harriman.
EUR/USD looking for direction
Currently it trades at 1.1165/70, practically flat for the day. The pair still holds a modestly bullish tone in the very short-term as it recovers from Thursday’s decline to 1.1086 following Draghi’s press conference.
On a wider perspective, the pair continues to consolidate after plunging late in August. Price remain below the daily 20-SMA that stands around 1.1250, a break higher could reinforce the upside, while to the downside a close below 1.1100 could boost the US dollar.