DAILY EUR/USD TECHNICAL OUTLOOKLast Update At 10 Jul 2014 00:00GMT
Trend Daily Chart
Down
Daily Indicators
Turning up
21 HR EMA
1.3628
55 HR EMA
1.3617
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
64
14 HR DMI
+ve
Daily Analysis
Marginal gain b4 retreat
Resistance
1.3700 - Last Tue's high
1.3664 - Last Fri's high
1.3648 - Y'day's high
Support
1.3602 - Y'day's low
1.3576 - Mon's low
1.3537 - Jun 17 low
. EUR/USD - 1.3643... Despite euro's retreat fm 1.3630 to 1.3602 in Europe
on Wed, renewed cross-buying vs stg n yen lifted price n euro climbed to 1.3643
in NY morning. Later, the single currency dropped briefly to 1.3611 after the
release of FOMC minutes b4 rising to session high of 1.3648.
. Looking at the hourly n daily charts, y'day's rebound after holding abv
Mon's 2-week trough at 1.3576 indicates fall fm last Tue's high of 1.3700 has
made a low there n stronger gain twd 1.3653, this is the 'dynamic' 61.8% r of
1.3700-1.3576, cannot be ruled out, however, as stated previously, euro's sharp
retreat fm aforesaid 5-week peak at 1.3700 to 1.3576 strongly suggests the cor-
rection fm Jun's near 4-month trough at 1.3503 has ended, bias to euro remains
to the downside, reckon 1.3564 (last Thur's high) wud cap upside n yield another
fall later. Looking ahead, a daily close below 1.3576 wud confirm this bearish
view, then re-test of said Jun's near 4-month low shud follow next week.
. In view of abv analysis, we're buyomg euro on dips for one more rise or
wud sell on intra-day upmove. On the downside, below 1.3576 wud extend aforesaid
decline twd 1.3537/42.
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