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10 Jun 2014
EUR/USD bearish signals - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreetexplained and said that if the market has been lacking volume, I can’t imagine what’s up next with summer kick staring in a few days.
Key Quotes:
“The EUR/USD saw a spark of activity that latest just 2 hours late Europe, breaking one range to getting into another. Nevertheless, the pair trades at fresh 3-day lows, having posted 1.3533 with US opening”.
“The hourly chart maintains a clear bearish tone, with indicators losing bearish strength in oversold territory, more because of the lack of activity than of selling interest”.
“20 SMA in the mentioned time frame presents a strong bearish slope above current price, while the 4 hours chart shows also indicators heading lower in negative territory, and price below moving average, with the distance among them widening and the shorter at the bottom, clearly reflecting where interests are”.
“A break below 1.3520 immediate short term support, exposes the year low of 1.3476, while below this last the selloff is expected to accelerate. To the upside, 1.3645 price zone is the level to overcome to deny the bearish momentum, pretty unlikely at the time being”.
Key Quotes:
“The EUR/USD saw a spark of activity that latest just 2 hours late Europe, breaking one range to getting into another. Nevertheless, the pair trades at fresh 3-day lows, having posted 1.3533 with US opening”.
“The hourly chart maintains a clear bearish tone, with indicators losing bearish strength in oversold territory, more because of the lack of activity than of selling interest”.
“20 SMA in the mentioned time frame presents a strong bearish slope above current price, while the 4 hours chart shows also indicators heading lower in negative territory, and price below moving average, with the distance among them widening and the shorter at the bottom, clearly reflecting where interests are”.
“A break below 1.3520 immediate short term support, exposes the year low of 1.3476, while below this last the selloff is expected to accelerate. To the upside, 1.3645 price zone is the level to overcome to deny the bearish momentum, pretty unlikely at the time being”.