25 Nov 2014
The EUR/USD pair finished higher at 1.2422 on Monday – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst Omkar Godbole, notes the EUR/USD pair finished higher at 1.2422 on Monday after having bounced-off from the support located at 1.2358.
Key Quotes
“As expected the pair is struggling in the resistance zone of 1.2420-1.2440 today, with the daily RSI bearish at 42.01 levels.”
“Meanwhile, the hourly chart shows, the pair has faced rejection around 1.2440 levels since the yesterday’s US session.”
“Another attempt to take out 1.2440 levels is likely as the hourly RSI, at 52.00, has turned bullish.”
“However, the short-term trend reversal is seen only if the pair manages to post a daily close above 1.2480 levels, accompanied by an upside breakout in the daily RSI.”
“On the other hand, a fresh selling pressure can be anticipated if the pair faces rejection at 1.2440 levels. In such a case, the daily RSI is likely to see a downside breakout, pushing the pair down to 1.2280 levels.”
Key Quotes
“As expected the pair is struggling in the resistance zone of 1.2420-1.2440 today, with the daily RSI bearish at 42.01 levels.”
“Meanwhile, the hourly chart shows, the pair has faced rejection around 1.2440 levels since the yesterday’s US session.”
“Another attempt to take out 1.2440 levels is likely as the hourly RSI, at 52.00, has turned bullish.”
“However, the short-term trend reversal is seen only if the pair manages to post a daily close above 1.2480 levels, accompanied by an upside breakout in the daily RSI.”
“On the other hand, a fresh selling pressure can be anticipated if the pair faces rejection at 1.2440 levels. In such a case, the daily RSI is likely to see a downside breakout, pushing the pair down to 1.2280 levels.”