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EURUSD






2/16/2016 2:51:48 AM

EURUSD keeps falling - Technical Analysis - 16-02-2016



EURUSD kept declining in the intraday levels after breaching the support of that ascending price channel previously, with ongoing negative pressure from the SMA50, doubling the negative pressures on the pair's next trading, especially with an influx of negative signals from relative power indicators like the Stochastic as shown below the attached chart. It's worth mentioning that the successive tumbles are a a correction for the main upward medium-term trend.

Therefore we expect more losses to come for the pair in the coming trading, targeting the pivotal support of 1.1085.


Target
Risk


Support
Resistance


Trend Bearish

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