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14 May 2015
EUR/USD: 4hr offers bullish bias - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained, in respect of EUR/USD, that ahead of the Asian opening, the pair was in recovery mode while coming with a bullish bias.
Key Quotes:
"Bouncing from the 1.1342 session low, and with the 1 hour chart showing that the pair is aiming to regain ground above its 20 SMA, whilst the technical indicators are posting tepid bounces from their mid-lines."
"In the 4 hours chart, the 20 SMA gained further bullish slope, currently around 1.1260, whilst the Momentum indicator heads south in positive territory, albeit the RSI indicator lost its downward potential after correcting overbought readings, now flat above 60, all of which suggest the risk remains towards the upside."
Key Quotes:
"Bouncing from the 1.1342 session low, and with the 1 hour chart showing that the pair is aiming to regain ground above its 20 SMA, whilst the technical indicators are posting tepid bounces from their mid-lines."
"In the 4 hours chart, the 20 SMA gained further bullish slope, currently around 1.1260, whilst the Momentum indicator heads south in positive territory, albeit the RSI indicator lost its downward potential after correcting overbought readings, now flat above 60, all of which suggest the risk remains towards the upside."