6 Sep 2013
EUR/USD bearishness far from over
FXstreet.com (Lisbon) - The EUR/USD foreign exchange rate managed to stop the recent bleeding Friday, stabilizing thus far in positive territory ahead of the afternoon US Nonfarm payroll report.
EUR/USD technical levels
At this juncture, the EUR/USD has now inched higher towards 1.3127 during European trading, clinging to narrow gains of +0.05% thus far. Technically speaking, the EUR/USD remains fortified above supports at 1.3102, ahead of 1.3080. Conversely, resistances should help bound the pair at 1.3153, onto 1.3193, calculates the Mataf.net analyst team.
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/USD dropped sharply yesterday and is currently trading close to 50% correction, whereas this correction residing at 1.3105 levels represent an intraday interval with a possibility of extending bearishness. The bearish possibility is still valid but the pair has to stabilize intraday below 1.3185, whereas the current bearish correction isn’t over yet and there aren’t enough positive signals indicating the end of the correction.”
EUR/USD technical levels
At this juncture, the EUR/USD has now inched higher towards 1.3127 during European trading, clinging to narrow gains of +0.05% thus far. Technically speaking, the EUR/USD remains fortified above supports at 1.3102, ahead of 1.3080. Conversely, resistances should help bound the pair at 1.3153, onto 1.3193, calculates the Mataf.net analyst team.
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/USD dropped sharply yesterday and is currently trading close to 50% correction, whereas this correction residing at 1.3105 levels represent an intraday interval with a possibility of extending bearishness. The bearish possibility is still valid but the pair has to stabilize intraday below 1.3185, whereas the current bearish correction isn’t over yet and there aren’t enough positive signals indicating the end of the correction.”