30 Apr 2015
EUR/USD targets 1.1300 through 1.1240 - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet offered the EUR/USD in a technical snapshot.
Key Quotes:
"Technically, the 1 hour chart shows that the price consolidates above a bullish 20 SMA, whilst the technical indicators head higher above their mid-lines after correcting overbought readings earlier in the day."
"In the 4 hours chart the 20 SMA heads sharply higher around 1.1030 now, whilst the technical indicators remain in extreme overbought territory, far from suggesting a downward correction ahead. Renewed buying interest above 1.1240 should lead to additional advances towards fresh highs in the 1.1300 region."
Key Quotes:
"Technically, the 1 hour chart shows that the price consolidates above a bullish 20 SMA, whilst the technical indicators head higher above their mid-lines after correcting overbought readings earlier in the day."
"In the 4 hours chart the 20 SMA heads sharply higher around 1.1030 now, whilst the technical indicators remain in extreme overbought territory, far from suggesting a downward correction ahead. Renewed buying interest above 1.1240 should lead to additional advances towards fresh highs in the 1.1300 region."