DAILY EUR/USD TECHNICAL OUTLOOKLast Update At 23 Mar 2016 00:21GMT
Trend Daily Chart
Sideways
Daily Indicators
Rising
21 HR EMA
1.1224
55 HR EMA
1.1237
Trend Hourly Chart
Near term down
Hourly Indicators
Falling
13 HR RSI
39
14 HR DMI
-ve
Daily Analysis
Consolidation b4 one more fall
Resistance
1.1307 - Last Fri's NY high
1.1260 - Y'day's high
1.1239 - NY high
Support
1.1189 - Y'day's low
1.1176 - Last Mon's high, now sup
1.1144 - 38.2% r of 1.0821-1.1343
. EUR/USD - 1.1220... Although euro staged a rebound fm 1.1230 to 1.1260 in Asia y'day, price tumbled to 1.1189 in Europe due to broad-based euro selling after news of bombing attacks in Brussels b4 staging a recovery to 1.1239 in NY.
. On the daily picture, despite euro's rally abv previous 1.1218 res (now sup) to 1.1343 last week, y'day's weakness to 1.1189 suggests euro is not ready to re-test Feb's 3-1/2 month peak at 1.1377 n choppy consolidation with near term downside bias is sen for a correction of early 3-legged upove fn Mar's 1.0821 low, a 'minimum' 38.2% r of this move should pressure price to 1.1144, a daily close below there would yield subsequent decline twd 1.1082 (50% r), however, reckon 1.1058 sup would remain intact n yield rebound next week. On the upside, only a daily close abv 1.1260 would suggest aforesaid pullback fm 1.1343 has ended n bring re-test of 1.1343.
. Today, euro's sideways move in NY afternoon following intra-day recovery fm 1.1189 to 1.1239 suggests consolidation is in store, as long as y'day's 1.1260 high holds, bearishness remains for decline fm 1.1343 to resume twd 1.1144 but reckn sup 1.1125 would hold. Only abv 1.1260 risks gain to 1.1285, 1.1307.
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