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10 Nov 2014
EUR/USD: quiet range in uneventful Monday - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet sees most trading uneventfully in an empty fundamental data day, with the EUR/USD pair going as high as 1.2508
Key Quotes
“Stocks trade also slightly up on the day across the board, giving little clues from that side.”
“As for the short term technical picture, the EUR/USD 1 hour chart shows price above 20 and 100 SMAs, both together around 1.2470, while indicators diverge lower, but hold above their midlines.”
“In the 4 hours chart price retraces towards a still bearish 20 SMA whilst indicators stalled below their midlines, and turn south. 1.2440 comes as immediate support, with a break below likely signaling further intraday slides.”
Key Quotes
“Stocks trade also slightly up on the day across the board, giving little clues from that side.”
“As for the short term technical picture, the EUR/USD 1 hour chart shows price above 20 and 100 SMAs, both together around 1.2470, while indicators diverge lower, but hold above their midlines.”
“In the 4 hours chart price retraces towards a still bearish 20 SMA whilst indicators stalled below their midlines, and turn south. 1.2440 comes as immediate support, with a break below likely signaling further intraday slides.”