The EUR/USD extended short covering from lows but the pair was unable to breah above 200-day moving average. Currently, EUR/USD is trading at 1.3617, up 0.14% on the day, having posted a daily high at 1.3654 and low at 1.3503.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bullish.
The ECB raised its EUR/USD forex assumptions to 1.3800 2014, 2015, 2016. "Look for additional gains if EUR/USD can establish a base above the 200-day average (1.3648). 1.3736, the 100-day moving average is a logical target," commented Jamie Coleman from FXBeat.
General Risk Warning for stocks, cryptocurrencies, ETP, FX & CFD Trading. Investment assets are leveraged products. Trading related to foreign exchange, commodities, financial indices, stocks, ETP, cryptocurrencies, and other underlying variables carry a high level of risk and can result in the loss of all of your investment. As such, variable investments may not be appropriate for all investors. You should not invest money that you cannot afford to lose. Before deciding to trade, you should become aware of all the risks associated with trading, and seek advice from an independent and suitably licensed financial advisor. Under no circumstances shall Witbrew LLC and associates have any liability to any person or entity for (a) any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to investment trading or (b) any direct, indirect, special, consequential or incidental damages whatsoever.