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17 Apr 2014
EUR/USD aiming to fill the gap around 1.3890
FXStreet (Edinburgh) - According to Currency Analyst Valeria Bednarik at FXStreet, traders would be waiting for some kind of action by the ECB in order to define a clearer direction for spot.
Key Quotes
“Early data shown German producer prices for industrial products fell by 0.9%, compared to an year earlier, but the increasing deflationary pressure has hardly affected the currency: market players are indeed waiting for the ECB to act before turning bias in the pair, and will remain buoyed as long as is just talking”.
“Quoting a few pips below the weekly high of 1.3862, the pair seems aiming to fill the weekly opening gap around 1.3890, with the 4 hours chart showing price above its 20 SMA that losses the downward potential and turns flat around 1.3820, while indicators show a timid bullish bias right above their midlines”.
Key Quotes
“Early data shown German producer prices for industrial products fell by 0.9%, compared to an year earlier, but the increasing deflationary pressure has hardly affected the currency: market players are indeed waiting for the ECB to act before turning bias in the pair, and will remain buoyed as long as is just talking”.
“Quoting a few pips below the weekly high of 1.3862, the pair seems aiming to fill the weekly opening gap around 1.3890, with the 4 hours chart showing price above its 20 SMA that losses the downward potential and turns flat around 1.3820, while indicators show a timid bullish bias right above their midlines”.