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24 Apr 2015
EUR/USD: consolidation with upside bias – AceTrader
FXStreet (Barcelona) - The AceTrader Team, shares the technical outlook for EUR/USD, and expect a break above 1.0849 to lead to further gains towards 1.0887 and then 1.0940/50.
Key Quotes
“Yesterday's intra-day rally from 1.0666 to 1.0846 confirms pullback from last Friday's high of 1.0849 has ended at 1.0660 Tuesday and consolidation with upside bias remains, break of said resistance would signal up move from last week's low at 1.0521 to retrace early fall from 1.1062 has resumed and extend gain to 1.0887 and then towards 1.0940/50 later.”
“On the downside, only below 1.0732/33 would prolong choppy trading inside near term range of 1.0849-1.0660 and may yield weakness to 1.0690/00 but aforesaid support area at 1.0660-67 should remain intact.”
Key Quotes
“Yesterday's intra-day rally from 1.0666 to 1.0846 confirms pullback from last Friday's high of 1.0849 has ended at 1.0660 Tuesday and consolidation with upside bias remains, break of said resistance would signal up move from last week's low at 1.0521 to retrace early fall from 1.1062 has resumed and extend gain to 1.0887 and then towards 1.0940/50 later.”
“On the downside, only below 1.0732/33 would prolong choppy trading inside near term range of 1.0849-1.0660 and may yield weakness to 1.0690/00 but aforesaid support area at 1.0660-67 should remain intact.”