EUR/USD suffers from negative pressures - Technical Analysis - 22-01-2016
EUR/USD slid in the intraday levels, moving through the SMA50, and exposing itself to its negative pressure, which led to more losses, breaking eventually through the support of 1.0851, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the short term (from 1.0517 to 1.1059), with an influx of negative signals from relative power indicators lik the Stochastic as shown below the attached chart, doubling thereafter the pressures on the pair's next movements.
Therefore we expect more losses to come for the pair, as long as it settles below 1.0851, targeting thereafter the support of 1.0724, representing the ratio 61.8% of the same retracement levels.
Trend
Bearish