28 Nov 2014
EUR bears likely to remain in control– FXStreet
FXStreet (Barcelona) - FXStreet Analyst and Editor, Omkar Godbole, notes that the EUR bears will likely be in control today if the EUR/USD pair fails to trade above 1.25 levels.
Key Quotes
“The EUR/USD pair finished lower on Thursday at 1.2467 levels; well below the 10-DMA located at 1.2488.”
“Further weakness is seen at the time of writing as the pair trades 1.2455 levels, with the daily RSI bearish at 44.35 levels. Moreover, the gains were capped earlier today at the 5-DMA level located at 1.2470.”
“Meanwhile, hourly chart shows, the pair has breached the rising trend line support yesterday, while the hourly RSI, at 41.00, points to further weakness.”
“Thus, the pair may test 1.24 levels today if the 50% retracement support of this week’s uptrend located at 1.2447 is breached on the hourly charts.”
“Overall, the EUR bears are likely to remain in control of the pair so long as it trades below 1.25 levels.”
Key Quotes
“The EUR/USD pair finished lower on Thursday at 1.2467 levels; well below the 10-DMA located at 1.2488.”
“Further weakness is seen at the time of writing as the pair trades 1.2455 levels, with the daily RSI bearish at 44.35 levels. Moreover, the gains were capped earlier today at the 5-DMA level located at 1.2470.”
“Meanwhile, hourly chart shows, the pair has breached the rising trend line support yesterday, while the hourly RSI, at 41.00, points to further weakness.”
“Thus, the pair may test 1.24 levels today if the 50% retracement support of this week’s uptrend located at 1.2447 is breached on the hourly charts.”
“Overall, the EUR bears are likely to remain in control of the pair so long as it trades below 1.25 levels.”