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30 Mar 2015
EUR/USD: Medium term outlook bearish - FXStreet
FXStreet (Bali) - The medium term outlook remains bullish for the USD vs the EUR, notes <a href="http://www.fxstreet.com/analysis/currency-majors-technical-perspective/2015/03/29/">Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"Despite US data has been quite soft lately, the medium term outlook remains bullish for the USD, although latest choppy price action suggests investors are still uncertain on whether the latest bearish corrective movement is already complete. As for the EUR, the ongoing ECB's QE and Greek jitters, should keep the upside limited and favor selling into rallies."
"Technically, the 4 hours chart shows that the price ended last week a few pips above 1.0865, the 38.2% retracement of the bearish move between 1.1533 and 1.0461 although below its 20 SMA, and with the technical indicators maintaining bearish slopes below their mid-lines. The critical resistance level continues to be 1.0950, as the pair needs to extend beyond it to be able to retest the 1.1000 area, whilst Friday's low at 1.0800 is the intraday line in the sand to the downside."
Key Quotes
"Despite US data has been quite soft lately, the medium term outlook remains bullish for the USD, although latest choppy price action suggests investors are still uncertain on whether the latest bearish corrective movement is already complete. As for the EUR, the ongoing ECB's QE and Greek jitters, should keep the upside limited and favor selling into rallies."
"Technically, the 4 hours chart shows that the price ended last week a few pips above 1.0865, the 38.2% retracement of the bearish move between 1.1533 and 1.0461 although below its 20 SMA, and with the technical indicators maintaining bearish slopes below their mid-lines. The critical resistance level continues to be 1.0950, as the pair needs to extend beyond it to be able to retest the 1.1000 area, whilst Friday's low at 1.0800 is the intraday line in the sand to the downside."