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3/3/2016 3:01:35 AM

EURUSD suffers from negative pressures - Technical Analysis - 03-03-2016



EURUSD is facing negative pressures currently in the short term, with the overall dominance of the downward trend, while the pair trades within a descending price channel that limited its previous short-term movements, with ongoing negative pressure from the SMA50, while relative power indicators have reached extremely overbought levels compared to the pair's upward movements indicating a forming of a negative divergence in the Stochastic as shown below the attached chart, with the pivotal resistance of 1.0930 holding on.

Therefore we expect the pair to fall in the coming trading, targeting the support of 1.0800.


Target
Risk


Support
Resistance


Trend Bearish

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