Euro / U.S. DollarShort
EURUSD bearish – 20 day moving average caps the bounce
EURUSD 1.1171 – bearish – 20 day moving average caps the bounce
EURUSD failed to overcome 1.1295 (September 24, 2015 high) which is near the 50% retracement of the 1.1459/1.1104 fall and the 20 day moving average (currently at 1.1230). The current slide offers scope for further weakness towards the 1.1104/1.1086 support zone (September 23/4, 2015 lows). A breakdown there would extend the downtrend towards 1.1016 (August 18, 2015 low) near the 6-month rising channel support. Below there would risk the 1.0832 equality target (linking 1.1713-1.1086 from 1.1459). Bulls must reclaim 1.1295 to stabilize.
Outlook:
Intraday: bearish
Daily: bearish
Weekly: neutral
EURUSD failed to overcome 1.1295 (September 24, 2015 high) which is near the 50% retracement of the 1.1459/1.1104 fall and the 20 day moving average (currently at 1.1230). The current slide offers scope for further weakness towards the 1.1104/1.1086 support zone (September 23/4, 2015 lows). A breakdown there would extend the downtrend towards 1.1016 (August 18, 2015 low) near the 6-month rising channel support. Below there would risk the 1.0832 equality target (linking 1.1713-1.1086 from 1.1459). Bulls must reclaim 1.1295 to stabilize.
Outlook:
Intraday: bearish
Daily: bearish
Weekly: neutral
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.