The EUR/USD is back below the 1.2900 figure early Friday, as the dollar seems ready to resume its bullish trend now that all the huge fundamental events of the week have been left behind. There’s little to worry ahead for the rest of the day, with data coming mostly from Canada, and the CB Leading Indicator in the US by London close, and it would be tough this last can mess up with technical readings.
Technically and according to the 4 hours chart, the EUR/USD faltered around 1.2920/30, where 20 SMA capped the upside; indicators in the same time frame head south well into negative territory after correcting all of their oversold readings, with price so far having set a daily low of 1.2866. A downward acceleration below 1.2850 should lead to a continued slide towards fresh lows, eyeing the 1.2800/20 price zone.
To the upside, approaches to 1.2900/30 price zone will likely be seen as selling opportunities, and only a clear advance beyond 1.2950 will erase the bearish short term momentum.
View Live Chart for EUR/USD
Technically and according to the 4 hours chart, the EUR/USD faltered around 1.2920/30, where 20 SMA capped the upside; indicators in the same time frame head south well into negative territory after correcting all of their oversold readings, with price so far having set a daily low of 1.2866. A downward acceleration below 1.2850 should lead to a continued slide towards fresh lows, eyeing the 1.2800/20 price zone.
To the upside, approaches to 1.2900/30 price zone will likely be seen as selling opportunities, and only a clear advance beyond 1.2950 will erase the bearish short term momentum.
View Live Chart for EUR/USD
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