10 Sep 2015
EUR/USD: bulls find 1.12 handle; carry unwound to fresh highs
FXStreet (Guatemala) - EUR/USD has garnered strength in risk-off markets with a positively bid tone down from overnight lows of 1.1131, and now takes on the 1.12 handle trading circa 100 pips higher since London trade.
EUR/USD flew through the 200 SMA on the hourly chart as Wall Street's profits were taken off the table on risk while the Fed came back into the picture with a strong JOLTS, adding to last Friday's positive results in the background data of the headline number that all points towards a Fed that could potentially hike this September, leading Wall Street to panic stations seeking profits and the euro came up trumps when the carry-trade was unwound.
EUR/USD bulls looking for closes above 1.1280
Valeria Bednarik, chief analyst at FXStreet explained that, technically,"In the 4-hours chart, the pair maintains a neutral stance, with the technical indicators barely bouncing from their mid-lines, and the price moving back and forth around a flat 20 SMA. The pair may extend its advance later on this Thursday, yet it will take a steady advance beyond 1.1280, the 61.8% retracement of its latest decline, to confirm a more constructive outlook."
EUR/USD flew through the 200 SMA on the hourly chart as Wall Street's profits were taken off the table on risk while the Fed came back into the picture with a strong JOLTS, adding to last Friday's positive results in the background data of the headline number that all points towards a Fed that could potentially hike this September, leading Wall Street to panic stations seeking profits and the euro came up trumps when the carry-trade was unwound.
EUR/USD bulls looking for closes above 1.1280
Valeria Bednarik, chief analyst at FXStreet explained that, technically,"In the 4-hours chart, the pair maintains a neutral stance, with the technical indicators barely bouncing from their mid-lines, and the price moving back and forth around a flat 20 SMA. The pair may extend its advance later on this Thursday, yet it will take a steady advance beyond 1.1280, the 61.8% retracement of its latest decline, to confirm a more constructive outlook."