Monday, February 8, 2016

EUR/USD Posts New Losses

The pair witnessed some insecure buying in the early hours of today's session. Fortunately for Dollar bulls, this gain proved to be short-lived and the pair is now below opening price currently trading at 1.1088.

Although the trend is now bearish, the EUR/USD is above the 200SMA which indicates a bullish market. A dip below 1.1052 will put the pair again under the 200SMA and the bearish trend can be expected.

First level of resistance - 1.1130
First level of support - 1.1068

Chart: EUR/USD D1


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9 comments:

  1. UnknownFebruary 8, 2016 at 5:09 PM

    It's testing 1.1130 at the moment and I think it will break above that level.

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  2. UnknownFebruary 8, 2016 at 6:38 PM

    Great analysis!

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  3. UnknownFebruary 9, 2016 at 12:43 AM

    Thanks for such an informative article.

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  4. UnknownFebruary 9, 2016 at 11:53 AM

    Thank you for the analysis i'll keep an eye on the currency.

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  5. UnknownFebruary 9, 2016 at 2:59 PM

    Next resistance level can be found at 1.1246 level.

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  6. UnknownFebruary 9, 2016 at 9:29 PM

    Nicely spotted post.

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  7. UnknownFebruary 14, 2016 at 1:49 PM

    Very good analysis, well explained.

    ReplyDelete
  8. UnknownFebruary 14, 2016 at 8:05 PM

    Very useful information.

    ReplyDelete
  9. UnknownFebruary 16, 2016 at 11:07 PM

    A good post with good insights into the situation.

    ReplyDelete

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