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14 Jan 2015
Sentiment towards the EUR/USD remains negative - FXStreet
FXStreet (Bali) - The sentiment towards the EUR/USD remains negative, notes Valeria Bednarik, Chief Analyst at FXStreet, adding that selling the rallies seems to be market’s preferred choice these days.
Key Quotes
"When it comes to the technical picture, the sentiment towards the EUR/USD remains negative, as the pair consolidates a few pips above its fresh low of 1.1752."
"In the short term, the 1 hour chart shows that indicators are turning back lower late US session, after briefly correcting oversold readings reached earlier on the day, while price holds below its 20 and 100 SMAs, both in the 1.1800/10 price zone."
"In the 4 hours chart indicators are also biased south below their midlines, although showing no actual momentum at the time being."
"Market players will likely remain cautious ahead of tomorrow’s Court decision and even up to CPI readings to be released on Friday, but selling the rallies seems to be market’s preferred choice these days."
Key Quotes
"When it comes to the technical picture, the sentiment towards the EUR/USD remains negative, as the pair consolidates a few pips above its fresh low of 1.1752."
"In the short term, the 1 hour chart shows that indicators are turning back lower late US session, after briefly correcting oversold readings reached earlier on the day, while price holds below its 20 and 100 SMAs, both in the 1.1800/10 price zone."
"In the 4 hours chart indicators are also biased south below their midlines, although showing no actual momentum at the time being."
"Market players will likely remain cautious ahead of tomorrow’s Court decision and even up to CPI readings to be released on Friday, but selling the rallies seems to be market’s preferred choice these days."