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12 Dec 2014
EUR/USD sees a bull bias, but needs strength for an higher push – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Matias Salord, notes that the EUR/USD pair holds a bullish tone as it trades above 1.2415, but needs further strength to break above 1.2500 levels.
Key Quotes
“Another quiet session it the currency market, with the euro strengthening near the end of the week. During the European session, on the back of the ECB showing that banks will repay €40 billion next week (LTRO program), the EUR/USD broke 1.2415 and climbed to 1.2465. The pair still holds a bullish tone, but it will need much more strength to break above 1.2500.“
“The short term will continue to favor the upside as long as the price remains above 1.2390, that is the key short term support: a break below would signal a test to 1.2360. A consolidation under 1.2360 could open the door for a major slide, but price action should remain limited on Friday ahead of the weekend.”
Key Quotes
“Another quiet session it the currency market, with the euro strengthening near the end of the week. During the European session, on the back of the ECB showing that banks will repay €40 billion next week (LTRO program), the EUR/USD broke 1.2415 and climbed to 1.2465. The pair still holds a bullish tone, but it will need much more strength to break above 1.2500.“
“The short term will continue to favor the upside as long as the price remains above 1.2390, that is the key short term support: a break below would signal a test to 1.2360. A consolidation under 1.2360 could open the door for a major slide, but price action should remain limited on Friday ahead of the weekend.”