1 May 2014
EUR/USD scope to extend gains beyond 1.3900 – FXStreet
FXStreet (Edinburgh) - Currency Analyst Valeria Bednarik at FXStreet notes there is still room for further upside in EUR/USD.
Key Quotes
“It took almost 3 weeks and one FED meeting for the EUR/USD to close the weekly opening gap left after Draghi began jawboning on stimulus and concerns over a strong currency”.
“Technically, the 4 hours chart shows price holding around the daily high of 1.3888 and above a bullish 20 SMA, while indicators maintaining the bullish bias in positive territory, all of which suggest there’s room to continue advancing: a price acceleration above 1.3890 should see a quick spike up to 1.3920 price zone, while above this last 1.3966 year high comes next”.
Key Quotes
“It took almost 3 weeks and one FED meeting for the EUR/USD to close the weekly opening gap left after Draghi began jawboning on stimulus and concerns over a strong currency”.
“Technically, the 4 hours chart shows price holding around the daily high of 1.3888 and above a bullish 20 SMA, while indicators maintaining the bullish bias in positive territory, all of which suggest there’s room to continue advancing: a price acceleration above 1.3890 should see a quick spike up to 1.3920 price zone, while above this last 1.3966 year high comes next”.