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27 Feb 2015
EUR/USD: Bears take control - FXStreet
FXStreet (Bali) - Ani Salama, Head of US Editors at FXStreet, shares her technical view on the EUR/USD, noting that bearish tendencies are developing short term, with the pair in need to at least regain the 1.1270 area to ease the short-term pressure.
Key Quotes
"The EUR/USD pair fell sharply on Thursday as the dollar staged a rally across the board following a batch of mixed US data. Even though January US consumer prices declined more than expected, core figures beat expectations rising by 0.2% MoM and 1.6% YoY."
"Meanwhile, durable goods orders bounced strongly in January after 2 months of falls, rising 2.8% versus 1.7% expected. On the other hand, initial jobless claims rose to 313,000 last week versus 290,000 of consensus."
"From a technical perspective, daily indicators have turned neutral as spot trades below a flat 20 SMA. In the 4-hour charts, the pictures has turned bearish although, with the RSI signaling oversold conditions, EUR/USD might take a breather before another push lower. The pair needs to at least regain the 1.1270 area (former support zone) to ease the short-term pressure."
Key Quotes
"The EUR/USD pair fell sharply on Thursday as the dollar staged a rally across the board following a batch of mixed US data. Even though January US consumer prices declined more than expected, core figures beat expectations rising by 0.2% MoM and 1.6% YoY."
"Meanwhile, durable goods orders bounced strongly in January after 2 months of falls, rising 2.8% versus 1.7% expected. On the other hand, initial jobless claims rose to 313,000 last week versus 290,000 of consensus."
"From a technical perspective, daily indicators have turned neutral as spot trades below a flat 20 SMA. In the 4-hour charts, the pictures has turned bearish although, with the RSI signaling oversold conditions, EUR/USD might take a breather before another push lower. The pair needs to at least regain the 1.1270 area (former support zone) to ease the short-term pressure."