FXHIGHWAY

 Breaking News


EURUSD






2/18/2016 2:06:29 AM

EURUSD trades within a descending price channel - Technical Analysis - 18-02-2016



EURUSD kept driving lower in the intraday levels as the pair trades within a descending price channel that limited its previous short-term movements as shown in the attached chart, with ongoing negative pressure from the SMA50, while the pair settled below the important resistance of 1.1155, and finally, relative power indicators have reached extremely overbought levels in a way contradictory to the pair's upward movement, doubling the negative pressues on the coming trading.

Therefore we expect more tumbles for the pair, targeting the pivotal support of 1.1085.


Target
Risk


Support
Resistance


Trend Bearish

Logs

Advertisements