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2 Dec 2014
EUR/USD offered on Central Bank divergences - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the EUR/USD trades at its lower level in six days and approaches the year low of 1.2357.
Key Quotes:
“The Central Bank’s imbalances favored the American currency after well known doves such as Fischer and Dudley, diminishing the importance of oil slide in inflation, and point for a rate hike mid 2015”.
“As for the technical picture, the EUR/USD 1 hour chart shows moving averages remain broadly in a tight range despite latest price decline, as price remains trapped within this last 4 weeks range; indicators however present a strong bearish momentum heading into oversold territory and with no signs of a sudden change in current direction”.
“In the 4 hours chart technical readings are biased lower below their midlines, while price approaches critical 1.2360 support: large stops are suspected below
Key Quotes:
“The Central Bank’s imbalances favored the American currency after well known doves such as Fischer and Dudley, diminishing the importance of oil slide in inflation, and point for a rate hike mid 2015”.
“As for the technical picture, the EUR/USD 1 hour chart shows moving averages remain broadly in a tight range despite latest price decline, as price remains trapped within this last 4 weeks range; indicators however present a strong bearish momentum heading into oversold territory and with no signs of a sudden change in current direction”.
“In the 4 hours chart technical readings are biased lower below their midlines, while price approaches critical 1.2360 support: large stops are suspected below