Forex Technical Analysis on Majors


EUR/USD     Current level – 1.3302 The pair is in a broad consolidation pattern below 1.4580 resistancearea and current sell-off from 1.4550 is expected to be the final slideto complete that pattern. Technical indicators on the larger frames areneutral and trading is situated betweenthe 50 and 200 dailySMAs,currently projected at 1.4301  and 1.4020. Yesterday’s test of  1.3420 resistance failed and the bias remainsnegative for a test of the previous low at 1.3145.

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