7 Apr 2015
EUR/USD looking bearish – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that EUR/USD exhibits a bearish tone whilst below 1.0865, and might see a decline towards 1.0760/70 on a break below 1.0800 levels.
Key Quotes
“The EUR/USD 4 hours chart shows that the price accelerated below its moving averages, with the 20 SMA turning sharply south well above the current level, and the technical indicators pointing for additional declines below their mid-lines.”
“The price is now consolidating below the critical Fibonacci level around 1.0865, which supports the bearish outlook.”
“The immediate support is now at the 1.0810 region, which means that if the mentioned resistance holds, sellers may push the pair towards it.”
“Beyond 1.0800 the intraday decline can extend up to the 1.0760/70 region.”
“Above 1.0870 on the other hand, the pair may recover, with the intraday resistances at 1.0900 and 1.0950.”
Key Quotes
“The EUR/USD 4 hours chart shows that the price accelerated below its moving averages, with the 20 SMA turning sharply south well above the current level, and the technical indicators pointing for additional declines below their mid-lines.”
“The price is now consolidating below the critical Fibonacci level around 1.0865, which supports the bearish outlook.”
“The immediate support is now at the 1.0810 region, which means that if the mentioned resistance holds, sellers may push the pair towards it.”
“Beyond 1.0800 the intraday decline can extend up to the 1.0760/70 region.”
“Above 1.0870 on the other hand, the pair may recover, with the intraday resistances at 1.0900 and 1.0950.”