EURUSD pauses downtrend and consolidates

April 6, 2015

EURUSD rallied sharply on Friday to 1.1026 from 1.0876 on the back of weak US nonfarm payrolls. The pair is now consolidating these gains. The intraday bias remains neutral as the pair has been trading in a range between 1.0712 and 1.1051 since mid-March.

Any upside moves should be limited by 1.1051 and to the downside support is seen at 1.0712. The multi-year low of 1.0461 is as critical support level and a break below this would strengthen the overall bearish trend.

For now the downside has stalled as indicated by the RSI being above 50 in bullish territory and also the tenkan-sen line has crossed above the kijun-sen, this being a bullish signal.

Publication source
XM information  XM reviews

October 25, 2016
Oil rally fizzles out as OPEC efforts seen sterile
The Oil prices retreated on Monday during the Asian trading session as the investors started opting to cut bullish wagers because the doubts gathered about the inability to produce significant changes in the output freeze agreement unless the demand does not increase...
October 25, 2016
Policy divergence
The policy divergence play that is EURUSD was more stable at the early part of the week, this following on from the break below the 24th June low that has marked the major support point and especially over recent days...
October 24, 2016
A volatile week ahead
Global stocks were resilient last week Friday with major arenas clawing back gains following the upbeat corporate earnings and stabilising oil prices which revived risk appetite...

FXCM Rating
OANDA Rating
Orbex Rating
XM Rating
FxPro Rating
FIBO Group Rating

OptionRally Rating
Empire Option Rating
365BinaryOption Rating
Banc De Binary Rating
EZTrader Rating
Anyoption Rating