Back
15 Dec 2014
EUR/USD may range-trade – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, anticipates the EUR/USD pair to trade within the 1.2480-1.25 range today.
Key Quotes
“The EUR/USD pair finished higher on Friday at 1.2454 levels, after bouncing-off from the 5-DMA level. Despite the positive move the daily RSI is still struggling to rise above 50.00 levels.”
“For two consecutive sessions, the pair faced rejection in the range of 1.2480-1.25.”
“Meanwhile, the hourly chart shows, the pair has so far managed to sustain above the 23.6% retracement level of the uptrend located at 1.2438 levels. However, the hourly RSI at 49.91, shows the pair is more likely to breach the support at 1.2438. EUR bears are likely to come-in strong once the pair dips below the rising trend line support on the hourly chart located at 1.2420 levels. The 5-DMA support also rests at 1.2420 levels.”
“On the other hand, the upside in the pair appears capped around 1.2480-1.25 levels. Overall the pair is likely to trade in the range of 1.2420-1.2480 levels today.”
Key Quotes
“The EUR/USD pair finished higher on Friday at 1.2454 levels, after bouncing-off from the 5-DMA level. Despite the positive move the daily RSI is still struggling to rise above 50.00 levels.”
“For two consecutive sessions, the pair faced rejection in the range of 1.2480-1.25.”
“Meanwhile, the hourly chart shows, the pair has so far managed to sustain above the 23.6% retracement level of the uptrend located at 1.2438 levels. However, the hourly RSI at 49.91, shows the pair is more likely to breach the support at 1.2438. EUR bears are likely to come-in strong once the pair dips below the rising trend line support on the hourly chart located at 1.2420 levels. The 5-DMA support also rests at 1.2420 levels.”
“On the other hand, the upside in the pair appears capped around 1.2480-1.25 levels. Overall the pair is likely to trade in the range of 1.2420-1.2480 levels today.”