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11 May 2015
EUR/USD might test 1.1188 levels – FXStreet
FXStreet (Barcelona) - According to Omkar Godbole, FXStreet Editor and Analyst, hourly technicals suggest that EUR/USD might rise towards 1.1188 levels.
Key Quotes
“On the hourly chart, the pair has dipped well below its 200-MA located at 1.1188. The hourly RSI has hit the oversold region, and a positive hourly candle would confirm a bullish RSI divergence. In such a case, the pair could re-test the hourly 200-MA located at 1.1188. A break above the same could open doors for 1.1234-1.1240 levels.”
“On the other hand, a break below the support at 1.1121 is likely to see fresh bids, pushing the pair down to 1.1058 leves (38.2% fib retracement of 1.0519-1.1390).”
Key Quotes
“On the hourly chart, the pair has dipped well below its 200-MA located at 1.1188. The hourly RSI has hit the oversold region, and a positive hourly candle would confirm a bullish RSI divergence. In such a case, the pair could re-test the hourly 200-MA located at 1.1188. A break above the same could open doors for 1.1234-1.1240 levels.”
“On the other hand, a break below the support at 1.1121 is likely to see fresh bids, pushing the pair down to 1.1058 leves (38.2% fib retracement of 1.0519-1.1390).”