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Feb 27 - 09:48 AM
EUR/USD: S/T Consolidation Below 1.1390; Looking To Sell Rallies Above There - ING
First appeared on eFXplus on Feb 26 - 12:35 PM

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

"The short-term consolidation pattern between 1.1215 and 1.1530 continues with prices moving below the flat MA-50 line at 1.1390 at the moment. However, looking at the improving daily momentum chart we should expect further gains, confirmed by a close above the MA-50 line," ING notes. 

"The upside potential remains limited within this trading range with strong resistance beginning at the falling trend line around 1.1460 and overhead resistance coming in between the declining EMA-200 line at 1.1520 and the horizontal line around 1.1530. We recommend selling the rallies above the MA-50 line," ING adds. 

Source:
ING Research/Market Commentary

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