EURUSD consolidates below 1.1400
20 February, 2015
EURUSD continues to trade in a tight range above support of 1.1261.The pair has tested the key 1.1400 level several times but has moved back below it today. A break of the multi-year low at 1.1096 would strengthen the underlying bearish trend.
Technical indicators are bearish. Looking at the daily chart, the kijun-sen line is pointing south, and the Ichimoku cloud is thickening. RSI is in bearish territory below 50 and the recent rise has stalled, indicating that the momentum from the bounce up in EURUSD has paused, resulting in consolidation. Upon resumption of the downside, the pair has scope to target the next major low which comes in at 1.0762.
A bounce to the upside would be limited by immediate resistance at 1.1449 and 1.1532. Major resistance lies at 1.1679. A break above this would weaken the bearish bias.
Source link
Related materials
The US dollar rally suffered a major setback on Friday after the Trump administration failed in its attempts to repeal and replace Obamacare...
EURGBP fell below its 20-day moving average on Monday to a low of 0.7140. The downside bias remains strong after the pair failed to close...
EURUSD has been gaining momentum and reached fresh 3-month highs of 1.1370 in early European session trading on Thursday...
EUR/USD is looking more bullish after breaking above the daily Ichimoku cloud last week. The pair remains outside the cloud...
EURGBP fell back to the lower Bollinger Band bringing the bias back to bearish. Momentum is also bearish as...
GBPUSD fell to the lowest level since 2010 on Monday, touching 1.4564. The pair failed to break above resistance of 1.5008 and now...
EURGBP is in a range and the near-term bias remains neutral. Resistance lies at the...
EURUSD rallied sharply on Friday to 1.1026 from 1.0876 on the back of weak US nonfarm...
EURUSD bounced from Tuesday’s low of 1.0712, pausing the recent 4-day decline from 1.1051. The daily...
Top Brokers offering Daily Forex Market Reviews
Forex Currencies Forecasts
| # | Broker | Review | |
|---|---|---|---|
| 1 |  | Easy Markets | 90% |
| 2 |  | FXTM | 87% |
| 3 |  | FxPro | 84% |
| 4 |  | FIBO Group | 82% |
| 5 |  | HYCM | 73% |
| 6 |  | FXCM | 71% |
| 7 |  | Fort Financial Services | 70% |
| 8 |  | HotForex | 69% |
| 9 |  | FBS | 68% |
| 10 |  | 24option | 67% |
