EUR/USD declined a bit on Friday but found some strong buy orders near the 1.1075 (S2) zone and advanced again to trade within the 1.1135 (S1) support and the 1.1220 (R1) resistance levels. I still believe that the rally following the ECB meeting is overstretched and that a larger downside retreat could be on the cards for now. A break below the support of 1.1135 (S1) is likely to set the stage for another test of the 1.1075 (S2) support zone. Taking a look at our short-term oscillators, I see that the MACD stands above both its zero and trigger lines and points up, but the RSI edged higher, hit resistance at 70 and turned down. The mixed signals from our indicators support the case to wait for a break below 1.1135 (S1) to trust further declines. Switching to the daily chart, I see that EUR/USD is still trading between the 1.0800 key zone and the psychological area of 1.1500. Therefore, I would keep the view that the broader trend remains sideways.
Home » Daily Technical Reports » EUR/USD Today Technical Report 14/03/2016
EUR/USD Today Technical Report 14/03/2016
Recent Posts
Recent Comments
steve pool on Gold Today Technical Report… | |
M.P.S.SETHI on GBP/USD Technical Report … | |
szrnfx on GOLD Today Signal 19/02/2… | |
Rashid on GOLD Today Signal 19/02/2… | |
szrnfx on GBP/USD Today Trade Signal… |
Categories
Advertisements
Advertisements
Tags: eur/usd, Forex, Forex Trading, Technical Report, Today, Trade, Trading Idea, trading tip, Trend
By szrnfx in Daily Technical Reports on .Recent Posts
Recent Comments
steve pool on Gold Today Technical Report… | |
M.P.S.SETHI on GBP/USD Technical Report … | |
szrnfx on GOLD Today Signal 19/02/2… | |
Rashid on GOLD Today Signal 19/02/2… | |
szrnfx on GBP/USD Today Trade Signal… |