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4/13/2016 2:46:31 AM

EURUSD pierces an ascending price channel's support - Technical Analysis - 13-04-2016



EURUSD fell in the intraday levels, breaching the SMA50, which led to more negative pressures that forced the pair to pierce the support of that ascending price channel that limited its previous short-term movements, doubling the negative pressures yet again and exhausting its positive chances, while embarking on a falling correctional wave, searching for a bottom to buoy it higher.

Therefore we expect more losses to come for the pair, especially if it broke through the pivotal support of 1.1340, targeting the support of 1.1220.


Target
Risk


Support
Resistance


Trend Bearish

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