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2/1/2016 2:11:14 AM

EURUSD exposed to negative pressure - Technical Analysis - 01-02-2016



EURUSD fell in the short term trading, after moving through the SMA50, getting exposed to its negative pressure, which led to more tumbles, reaching the support of 1.0815, which represents the ratio 61.8% if Fibonacci retracement levels for an ascending wave in the short term (from 1.0710 to 1.0984), with the pair then bouncing off that support in an attempt to recover some losses, till it parked at the resistance of 1.0847, representing the atio 50%.

Therefore we expect the pair to resume its decline, targeting the support of 1.0775, which represents the ratio 76.4% of the same retracement levels.


Target
Risk


Support
Resistance


Trend Bearish

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