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20 Apr 2015
EUR/USD: sideways to bearish trade – Vladimir Mihaylov
FXStreet (Barcelona) - Independent Analyst, Vladimir Mihaylov, expects EUR/USD to remain in a broad 1.0500-1.0900 range, but warns that a potential Greek exit might lead to a drop below parity.
Key Quotes
“EUR continues to be under downside pressure because of the financial problems with Greece and speculations that it may leave the Eurozone next month. Of course such a move will throw financial markets in panic and the pair will drop below 1.000. This will make the dollar very expensive and the price will have a negative impact of the US export too.”
“Above 1.0750 some limited upside is possible to 1.0900 for example where we shall meet the Senkou Span A price level of the Daily cloud.”
“For now EUR seems not strong enough to enter the cloud and i expect we shall stay below it for the next 2 weeks at least. So the outlook here is sideways to bearish trade.”
“More upside recovery only on a Daily close above 1.1000. For now we have formed a good support area at 1.0500, so you may use range 1.0500-1.0900 for a range trade strategy.”
Key Quotes
“EUR continues to be under downside pressure because of the financial problems with Greece and speculations that it may leave the Eurozone next month. Of course such a move will throw financial markets in panic and the pair will drop below 1.000. This will make the dollar very expensive and the price will have a negative impact of the US export too.”
“Above 1.0750 some limited upside is possible to 1.0900 for example where we shall meet the Senkou Span A price level of the Daily cloud.”
“For now EUR seems not strong enough to enter the cloud and i expect we shall stay below it for the next 2 weeks at least. So the outlook here is sideways to bearish trade.”
“More upside recovery only on a Daily close above 1.1000. For now we have formed a good support area at 1.0500, so you may use range 1.0500-1.0900 for a range trade strategy.”