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10 Dec 2014
EUR/USD confined to a tight range – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that the EUR/USD pair trades in a tight range between 1.2360-1.2400, losing yesterday’s upward potential.
Key Quotes
“There was no major data released over the European session, and the only reading that can affect markets during US hours will be Crude Oil Stocks in an hour.”
“In the short term, the pair has lost yesterday’s upward potential, with the 1 hour chart showing price moving back and forth around a flat 20 SMA and indicators giving no directional clues in neutral territory.”
“In the 4 hours chart indicators remain above their midlines but lose the upward tone, as the 20 SMA stands flat around 1.2330.”
“The dominant bearish trend may have moved to the background these days, but is still there as the pair needs to extend well above the 1.2600 area to confirm an interim bottom has taken place.”
Key Quotes
“There was no major data released over the European session, and the only reading that can affect markets during US hours will be Crude Oil Stocks in an hour.”
“In the short term, the pair has lost yesterday’s upward potential, with the 1 hour chart showing price moving back and forth around a flat 20 SMA and indicators giving no directional clues in neutral territory.”
“In the 4 hours chart indicators remain above their midlines but lose the upward tone, as the 20 SMA stands flat around 1.2330.”
“The dominant bearish trend may have moved to the background these days, but is still there as the pair needs to extend well above the 1.2600 area to confirm an interim bottom has taken place.”