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3/2/2016 1:56:05 AM

EURUSD drops further - Technical Analysis - 02-03-2016



EURUSD kept sliding in the intraday levels, with the pair trading within a descending price channel that limited its previous short-term movements, with a noticeable rise in relative power indicators as shown in the attached chart, doubling the negative pressures on the pair's movements, while still trading below the SMA50, putting the pair under negative outlook, especially after it breached the support of 1.0866, which we talked about in our previous analyses.

Therefore we expect more losses to come for the pair, targeting the pivotal support of 1.0800.


Target
Risk


Support
Resistance


Trend Bearish

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