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19 Mar 2014
EUR/USD steady below 1.3935
FXStreet (Córdoba) - The EUR/USD is moving slightly to the downside in Asia, retreating after being unable to make a clear break above 1.3930/40. The upside continues to face resistance below 1.3950, while to the downside the pair once again found support at 1.3880.
Technical outlook for the EUR/USD
Long term indicators are positive according to Jim Langlands from FX Charts, “although the dailies are in danger of becoming overbought, while the 4 hourlies are showing some bearish divergence, making for a rather confused picture, but if 1.3950, and last week’s high of 1.3966 can be overcome, then we can expect a more severe test of 1.4000 where barrier related selling can be expected to protect it”.
Langlands notes that good size stops are reported to be at 1.3970 and that if it climbs above 1.4000, ECB talk about a high euro could be heard.
Technical outlook for the EUR/USD
Long term indicators are positive according to Jim Langlands from FX Charts, “although the dailies are in danger of becoming overbought, while the 4 hourlies are showing some bearish divergence, making for a rather confused picture, but if 1.3950, and last week’s high of 1.3966 can be overcome, then we can expect a more severe test of 1.4000 where barrier related selling can be expected to protect it”.
Langlands notes that good size stops are reported to be at 1.3970 and that if it climbs above 1.4000, ECB talk about a high euro could be heard.