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2/24/2016 3:21:57 AM

EURUSD keeps falling - Technical Analysis - 24-02-2016



EURUSD kept sliding in the intraday levels, settling below the resistance of 1.1043, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 1.0710 to 1.1375), with negative pressure from the SMA50, along with an influx of negative signals from relative power indicators after they reached extremely overbought levels compared to the pair's upward movement.

Therefore we expect more losses for the pair as long as it settles below 1.1043, targeting the pivotal support of 1.0964, representing the ratio 61.8% of the same retracement levels mentioned earlier.


Target
Risk


Support
Resistance


Trend Bearish

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