Technical Summary for Majors

EUR/USD Extended one month downtrend from 1.4246, losing main bull trendline from 1.1875, 2010 low, to end week just above 1.3200 mark, the last barrier ahead of key short-term support at 1.3145. Overnight’s bounce is seen corrective, with previous low and 20 day SMA on 4H chart, limiting gains for now at 1.3330 zone. Losing 1.3300 handle, covers the gap and increases pressure again, keeping the focus lower. Only regain of 1.3400/20, strong resistance zone, would delay immediate bears. Res:

Comments are closed.