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20 Aug 2015
EUR/USD: 1.1400 zone eyed - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that EUR/USD ended the day above the 1.1200 figure, maintaining a clear short term bullish bias.
Key Quotes:
"Technically, the 1 hour chart shows that the 20 SMA has extended sharply above the 100 and 200 SMAs, and continues heading north below the current price, whilst the technical indicators are now consolidating near overbought levels."
"In the 4 hours chart, the technical indicators are heading strongly higher above their mid-lines as the pair continues to advance, with the pair about to challenge 1.1243, June 30th daily high. A steady advance beyond it should see the pair continue advancing this Friday, eyeing the 1.1400/10 price zone for the next week."
Key Quotes:
"Technically, the 1 hour chart shows that the 20 SMA has extended sharply above the 100 and 200 SMAs, and continues heading north below the current price, whilst the technical indicators are now consolidating near overbought levels."
"In the 4 hours chart, the technical indicators are heading strongly higher above their mid-lines as the pair continues to advance, with the pair about to challenge 1.1243, June 30th daily high. A steady advance beyond it should see the pair continue advancing this Friday, eyeing the 1.1400/10 price zone for the next week."