Valeria Bednarik, Chief Analyst at FXStreet, shares the technical outlook for EUR/USD, and notes that with no relevant fundamental data today, the pair awaits the outcome of today’s eurogroup meeting.
Key Quotes
“From a technical point of view, the 1 hour chart of the EUR/USD presents a quite neutral stance as the price has been restricted to a 40 pips range ever since the day started.”
“In the 4 hours chart a mild bearish tone prevails with the momentum indicator retracing from 100 and the price developing below a strongly bearish 20 SMA.”
“Nevertheless, price needs to extend below 1.1250/60 support to be able to gain bearish momentum.”
Key Quotes
“From a technical point of view, the 1 hour chart of the EUR/USD presents a quite neutral stance as the price has been restricted to a 40 pips range ever since the day started.”
“In the 4 hours chart a mild bearish tone prevails with the momentum indicator retracing from 100 and the price developing below a strongly bearish 20 SMA.”
“Nevertheless, price needs to extend below 1.1250/60 support to be able to gain bearish momentum.”
