7 Sep 2015
EUR/USD supports a downward continuation below 1.1080 - FXStreet
FXStreet (Bali) - Valeria Bednarik, Chief Analyst at FXStreet, notes that the technicals in EUR/USD supports a downward continuation on a break below the 1.1080 support.
Key Quotes
"The US Nonfarm Payroll report showed that the US added 173,000 new jobs in August, missing expectations of 220,000, although the unemployment rate fell down to 5.1% the lowest in seven years."
"The mixed data failed to give a clear sign as to which the next FED'S move could be, spurring uncertainty and leaving financial markets susceptible to risk trading during the upcoming days."
"Technically, the daily chart shows that the price managed to close the day slightly above the 100 and 200 SMAs, but below the 20 SMA, whilst the Momentum indicator heads lower around the 100 level and the RSI hovers around 47, maintaining the risk towards the downside. The daily 200 SMA stands around 1.1090, from where the pair bounced several times over the last few trading days."
"In the 4 hours chart, the price is below a bearish 20 SMA, whilst the technical indicators lack directional strength, but remain below their mid-lines, supporting a downward continuation on a break below the 1.1080 support."
Key Quotes
"The US Nonfarm Payroll report showed that the US added 173,000 new jobs in August, missing expectations of 220,000, although the unemployment rate fell down to 5.1% the lowest in seven years."
"The mixed data failed to give a clear sign as to which the next FED'S move could be, spurring uncertainty and leaving financial markets susceptible to risk trading during the upcoming days."
"Technically, the daily chart shows that the price managed to close the day slightly above the 100 and 200 SMAs, but below the 20 SMA, whilst the Momentum indicator heads lower around the 100 level and the RSI hovers around 47, maintaining the risk towards the downside. The daily 200 SMA stands around 1.1090, from where the pair bounced several times over the last few trading days."
"In the 4 hours chart, the price is below a bearish 20 SMA, whilst the technical indicators lack directional strength, but remain below their mid-lines, supporting a downward continuation on a break below the 1.1080 support."