26 May 2015
EUR/USD: consolidation before pressuring 1.0900/10 – AceTrader
FXStreet (Barcelona) - The AceTrader Team expects EUR/USD consolidation before the price pressures the support at 1.0900/10, but 1.0843 will hold any losses for today.
Key Quotes
“Despite trading narrowly in holiday-thinned North American session on Monday, euro-bearish news on Greek debt repayment which came out earlier in Australia sent the euro lower at Asian open today to a fresh 3-week low of 1.0931.”
“This is suggesting the recent decline from May's 3-month peak at 1.1467 would pressure price to 1.0900/10 after consolidation, near term 'loss of momentum' should keep euro above dynamic sup at 1.0843 today (being 61.8% r of 1.0457-1.1457).”
“On the upside, only above 1.1008/10 res would signal a temporary low is made, yield stronger retracement to 1.1040/43 but 1.1062 (previous sup, now res) should remain intact and yield another decline.”
Key Quotes
“Despite trading narrowly in holiday-thinned North American session on Monday, euro-bearish news on Greek debt repayment which came out earlier in Australia sent the euro lower at Asian open today to a fresh 3-week low of 1.0931.”
“This is suggesting the recent decline from May's 3-month peak at 1.1467 would pressure price to 1.0900/10 after consolidation, near term 'loss of momentum' should keep euro above dynamic sup at 1.0843 today (being 61.8% r of 1.0457-1.1457).”
“On the upside, only above 1.1008/10 res would signal a temporary low is made, yield stronger retracement to 1.1040/43 but 1.1062 (previous sup, now res) should remain intact and yield another decline.”