26 Nov 2013
EUR/USD struggles with the daily kijun sen
FXstreet.com (Barcelona) - EUR/USD continues to struggle around the 1.3560/70 resistance, level where a flat daily kijun line has been capping prices ever since sellers penetrated the level on Nov 1.
As Jim Langlands, Founder at FXCharts notes: "Technically, the daily Kijun and the weekly Tenkan which both lie at 1.3560 managed to rebuff the Euro today and it is has fallen back to the pivot level of recent weeks at just below 1.3500."
The outlook, in view of Jim, "remains for pretty choppy trade and I would not be getting too excited in either direction, with the 4 hour charts are pointing for a test of slightly lower levels, while the dailies currently remain supportive of buying dips."
As Jim Langlands, Founder at FXCharts notes: "Technically, the daily Kijun and the weekly Tenkan which both lie at 1.3560 managed to rebuff the Euro today and it is has fallen back to the pivot level of recent weeks at just below 1.3500."
The outlook, in view of Jim, "remains for pretty choppy trade and I would not be getting too excited in either direction, with the 4 hour charts are pointing for a test of slightly lower levels, while the dailies currently remain supportive of buying dips."