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3 Apr 2015
EUR/USD eyeing 1.1000 – FXStreet
FXStreet (Barcelona) - According to Omkar Godbole, FXStreet Editor and Analyst, EUR/USD might extend towards 1.0950-1.1000 levels, with technicals supporting the bullish view.
Key Quotes
“The pair rose to an intraday high of 1.0902 before settling at 1.0868 ahead of the non-farm payrolls report. The rally may have been due to unwinding of shorts ahead of the extended weekend. No major economic reports were released out of the Eurozone.”
“The deadlock between Greece and its international creditors still exists, with the Eurogroup meeting scheduled after the Easter holiday on April 8 and 9.”
“A weaker-than-expected payrolls report could drive the pair higher to 1.10-1.1050 levels, whereby fresh selling pressure can be anticipated. On the other hand, a stellar jobs report could drive the pair lower to 1.0685 levels.”
“As per charts, the pair could rise to 1.0950-1.10 levels. The pair has bounced-off from the hourly 200-MA at 1.0864, to trade at 1.0878. The RSI on the daily, hourly and the 4-hour time frame is located above 50.00, indicating further upside in the pair.”
“A break above 1.0911 (23.6% Fib retracement of 1.0461-1.1050) could see further buying interest in the pair. On the other hand, the EUR could see fresh selling pressure in case it dips below 1.0838 levels.”
Key Quotes
“The pair rose to an intraday high of 1.0902 before settling at 1.0868 ahead of the non-farm payrolls report. The rally may have been due to unwinding of shorts ahead of the extended weekend. No major economic reports were released out of the Eurozone.”
“The deadlock between Greece and its international creditors still exists, with the Eurogroup meeting scheduled after the Easter holiday on April 8 and 9.”
“A weaker-than-expected payrolls report could drive the pair higher to 1.10-1.1050 levels, whereby fresh selling pressure can be anticipated. On the other hand, a stellar jobs report could drive the pair lower to 1.0685 levels.”
“As per charts, the pair could rise to 1.0950-1.10 levels. The pair has bounced-off from the hourly 200-MA at 1.0864, to trade at 1.0878. The RSI on the daily, hourly and the 4-hour time frame is located above 50.00, indicating further upside in the pair.”
“A break above 1.0911 (23.6% Fib retracement of 1.0461-1.1050) could see further buying interest in the pair. On the other hand, the EUR could see fresh selling pressure in case it dips below 1.0838 levels.”