The EUR/USD trades slightly positive having advance up to 1.3668 intraday, but
Technically, the timid advance is not enough according to the 4 hours chart, where indicators remain weak around their midlines, as price hovers right above a still bearish 20 SMA: price needs at least to establish itself above the 1.3680 Fibonacci level, 61.8% retracement of this year bullish run, to be able to continue advancing, eyeing then 1.3730/45 price zone. In the meantime, risk remains to the downside, with a break below 1.3610 pointing for a quick run towards 1.3570 first, and looking for lower lows later near the 1.3520 price zone.
View Live Chart for EUR/USD
struggling for the most around the 1.3650 critical area. With no fundamental data released so far in Europe, the pair is being affected by ECB talks, with Governing Council Nowotny saying inflation in the EU will likely stay significantly below 2% for the this year and upcoming 2015.
Technically, the timid advance is not enough according to the 4 hours chart, where indicators remain weak around their midlines, as price hovers right above a still bearish 20 SMA: price needs at least to establish itself above the 1.3680 Fibonacci level, 61.8% retracement of this year bullish run, to be able to continue advancing, eyeing then 1.3730/45 price zone. In the meantime, risk remains to the downside, with a break below 1.3610 pointing for a quick run towards 1.3570 first, and looking for lower lows later near the 1.3520 price zone.
View Live Chart for EUR/USD
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Editors’ Picks
EUR/USD remains offered and below 1.1300
EUR/USD is feeling the squeeze, revisiting the area around 1.1280 as the US Dollar gains extra momentum on Tuesday. Mixed domestic data from Industrial Production and Economic Sentiment haven't done the Euro any favours either.
GBP/USD keeps the bullish stance in the low-1.3200s
After hitting fresh six-month peaks near 1.3250, GBP/USD is now under a tepid selling pressure due to a strong comeback in the Greenback, causing it to retreat toward the 1.3200 support area. Next on the UK docket are inflation figures, expected to be released on Wednesday.
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XRP, Dogecoin and Mantra traders punished for bullish bets, will altcoins recover?
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