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26 Feb 2015
EUR/USD might extend to 1.1430 – FXStreet
FXStreet (Barcelona) - According to Omkar Godbole, FXStreet Editor and Analyst, a EUR/USD move towards 1.1430 is possible on an expected fresh demand for the pair above 1.1368 levels.
Key Quotes
“The EUR/USD pair is hovering close to the hourly 200-MA located at 1.1367 levels. The shared currency remains well supported after the European Central Bank (ECB) President on Wednesday said he saw the first signs of confidence in the economy as stimulus starts to have a positive impact on growth.”
“With Greece’s debt crisis no longer an immediate risk and “patient” approach from the Federal Reserve, the EUR/USD pair could witness a short covering rally to 1.15 levels.”
“A fresh demand for Euros can be seen once the pair rises above the 38.2% Fib retracement level of the minor uptrend from 1.1096 to 1.1532 located at 1.1368.”
“With the hourly RSI bullish at 55.77, the pair could rise to 1.1430 once it moves above 1.1368 levels.”
“A better-than-expected German unemployment change data could help the pair rise above 1.1368 levels.”
“On the flip side, failure to sustain above 1.1368 could see the pair re-test 50% retracement level at 1.1315 levels.”
Key Quotes
“The EUR/USD pair is hovering close to the hourly 200-MA located at 1.1367 levels. The shared currency remains well supported after the European Central Bank (ECB) President on Wednesday said he saw the first signs of confidence in the economy as stimulus starts to have a positive impact on growth.”
“With Greece’s debt crisis no longer an immediate risk and “patient” approach from the Federal Reserve, the EUR/USD pair could witness a short covering rally to 1.15 levels.”
“A fresh demand for Euros can be seen once the pair rises above the 38.2% Fib retracement level of the minor uptrend from 1.1096 to 1.1532 located at 1.1368.”
“With the hourly RSI bullish at 55.77, the pair could rise to 1.1430 once it moves above 1.1368 levels.”
“A better-than-expected German unemployment change data could help the pair rise above 1.1368 levels.”
“On the flip side, failure to sustain above 1.1368 could see the pair re-test 50% retracement level at 1.1315 levels.”