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Jan 30 - 01:24 PM
EUR/USD: No Trend On A Short-Term Basis; Staying Neutral - ING
First appeared on eFXplus on Jan 30 - 11:30 AM

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

"There is no trend on a short-term basis, confirmed by a flat MA-50 line at 1.1390. Our long-term view remains bearish, but as long as prices are successfully consolidating above the former upper end of the falling trend channel around 1.1280 the consolidation pattern should be continued," ING notes. 

"The upside potential is limited as prices will meet strong resistance between the horizontal line around 1.1530 and the slowly falling EMA-200 line at 1.1555. A close above this resistance area is required for a Buy signal. Until then, we stay Neutral," ING adds. 

Source:
ING Research/Market Commentary

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