EUR/USD expected to remain subdued – FXStreet

FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair fell down to 1.0898 before recovering some ground, holding within negative territory intraday and with the technical picture suggesting a limited bearish scope.

Key Quotes:

“In the 4 hours chart, the technical indicators have also reversed course and turned higher after briefly breaking below their mid-lines. Also, the decline stalled around the 38.2% retracement of the latest daily decline between 1.1059 and 1.0804, and now hovers around the 50% retracement of the same decline.

Trading will continue to remain reduced during this Wednesday, with some second-line data scheduled both, in Europe and the US.”

Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair fell down to 1.0898 before recovering some ground, holding within negative territory intraday and with the technical picture suggesting a limited bearish scope.

(Market News Provided by FXstreet)