Welcome Guest:
Sign Up
Derived real-time data in partnership with:
Thomson Reuters
Apr 12 - 05:00 PM
EUR/USD: A Clear Close Above 50-MA round 1.1303 To Target 1.1385 Ahead Of 1.1435 - ING
First appeared on eFXplus on Apr 12 - 01:20 PM

ING discusses EUR/USD technical outlook and maintains a neutral bias on a multi-days basis.

"The short-term recovery scenario continues, confirmed by the further improving daily momentum chart. Prices are currently pounding against the declining MA-50 line at 1.1303. A clear close above this moving average line suggests further upside with next overhead resistance coming in at the upper end of the falling trend channel around 1.1385 with the declining EMA-200 line currently coming in at 1.1453," ING notes. 

"Our long-term view remains bearish and we are still looking for the next selling opportunity to downgrade our rating. For now, we stick to our Neutral rating," ING adds. 

Source:
ING Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
!