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1 Jul 2014
EUR/USD eyes 1.3735 as next target - FXStreet
FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, the strong upward momentum in EUR/USD prevails, with market players now eyeing 1.3735.
Key Quotes
"The EUR/USD rose up to 1.3698 early US opening, triggering stops above the critical Fibonacci 1.3680 area, now immediate support."
"The hourly chart shows price near mentioned high and indicators losing their upward potential in overbought territory, far from suggesting a reversal."
"20 SMA in the mentioned time frame has offered intraday support on retracements and maintains a strong bullish slope, currently around 1.3660."
"In the 4 hours chart a strong upward momentum prevails, with market players now eyeing 1.3735, 50% retracement of this year rally and immediate target if 1.3700 is finally taken."
Key Quotes
"The EUR/USD rose up to 1.3698 early US opening, triggering stops above the critical Fibonacci 1.3680 area, now immediate support."
"The hourly chart shows price near mentioned high and indicators losing their upward potential in overbought territory, far from suggesting a reversal."
"20 SMA in the mentioned time frame has offered intraday support on retracements and maintains a strong bullish slope, currently around 1.3660."
"In the 4 hours chart a strong upward momentum prevails, with market players now eyeing 1.3735, 50% retracement of this year rally and immediate target if 1.3700 is finally taken."