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Technical Analysis Daily: EUR/USD |
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Technical Archives |
Written by ZIFX.com |
Jan 07 09 00:20 GMT
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Technical Analysis Daily: EUR/USD
EUR/USD 1.3535
EUR/USD Open 1.3499 High 1.3646 Low 1.3310 Close 1.3525
As expected, after breaking out of the triangle formation downwards on the four hour chart the Euro/Dollar made a significant descending movement yesterday. The currency pair reached the short term targets 1.3465 and 1.3370, having reached even lower bottom at 1.3310. The signals now remain descending with targets towards the region of 1.3300. The CCI indicator, however, is in the oversold zone and in upward direction on the four hour chart, so be careful for possible ascending corrective movements and testing of 1.3600.
Technical resistance levels: 1.3620 1.3700 1.3925
Technical support levels: 1.3500 1.3405 1.3310
Trading range: 1.3530 - 1.3470
Trend: Downward
Sell at 1.3520 SL 1.3550 TP 1.3480
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