EURUSD pauses downtrend and consolidates

6 April, 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.


Source link  
Dollar close to erasing post-election gains

The US dollar rally suffered a major setback on Friday after the Trump administration failed in its attempts to repeal and replace Obamacare...

EURGBP bearish in lower Bollinger Band

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 bullish after breaking above 100-day moving average

EURUSD has been gaining momentum and reached fresh 3-month highs of 1.1370 in early European session trading on Thursday...


EURUSD breaks above Ichimoku cloud

EUR/USD is looking more bullish after breaking above the daily Ichimoku cloud last week. The pair remains outside the cloud...

EURGBP falls to lower Bollinger Band

EURGBP fell back to the lower Bollinger Band bringing the bias back to bearish. Momentum is also bearish as...

GBPUSD downside bias strong after reaching 5-year low

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 falls back to lower end of range

EURGBP is in a range and the near-term bias remains neutral. Resistance lies at the...

EURUSD pauses decline, downside risk remains

EURUSD bounced from Tuesday’s low of 1.0712, pausing the recent 4-day decline from 1.1051. The daily...

GBPUSD consolidates, bearish bias remains

GBPUSD has paused its sharp decline from 1.5551 to 1.4634 and is consolidating between 1.4806...

  


Share: