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EUR/USD still lacking directional strength – FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet comments that the EUR/USD pair has shown little progress since the day’s start.

Key Quotes

“The EUR/USD has shown little progress ever since the day started, contained in between familiar ranges: price found again sellers in the 1.2490/1.2500 price zone, retreating then towards a daily low of 1.2429 with buyers aligned in the 1.2430/40 price zone.”

“Short term, the 1 hour chart presents a pretty neutral stance, with moving averages all together in the same range as price, whilst indicators stand flat below their midlines.”

“In the 4 hours chart picture is unclear, with 20 SMA around the base of the mentioned range, momentum heading lower below 100 and RSI directionless around 50.”

“Either a downward acceleration below the daily low or some steady gains above 1.2500 are required to see the pair setting a more directional strength for the upcoming hours.”

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