13 Jan 2015
EUR/USD might move towards 1.1754 levels today – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, believes that the overall bearish trend for EUR/USD suggests that a move towards 1.1754 levels is likely for the pair today.
Key Quotes
“The EUR/USD pair few pips below the 5-DMA located at 1.1840 yesterday, making it a 12th consecutive session of closing below 5-DMA. The bounce back witnessed from 1.18 levels failed to last long as the pair reversed trend after failing near the hourly chart resistance located at 1.1860 levels.”
“Consequently, the pair has declined to trade at 1.1822 due to which the hourly RSI has been pushed below 50.00 levels, thereby opening doors for a further sell-off towards 1.1785 levels.”
“Moreover, the pair has also breached the hourly 50-SMA and 100-SMA located around 1.1826-1.1828.”
“Given the overall bearish trend, the pair may even extend losses to 1.1754 levels today.”
“Meanwhile, the EUR bulls are unlikely to have any say so long as the pair trades below 1.1871 levels.”
Key Quotes
“The EUR/USD pair few pips below the 5-DMA located at 1.1840 yesterday, making it a 12th consecutive session of closing below 5-DMA. The bounce back witnessed from 1.18 levels failed to last long as the pair reversed trend after failing near the hourly chart resistance located at 1.1860 levels.”
“Consequently, the pair has declined to trade at 1.1822 due to which the hourly RSI has been pushed below 50.00 levels, thereby opening doors for a further sell-off towards 1.1785 levels.”
“Moreover, the pair has also breached the hourly 50-SMA and 100-SMA located around 1.1826-1.1828.”
“Given the overall bearish trend, the pair may even extend losses to 1.1754 levels today.”
“Meanwhile, the EUR bulls are unlikely to have any say so long as the pair trades below 1.1871 levels.”