EUR/USD is in a downtrend, after finalizing the rebound from 1.3882 (Sept. 11 2008) at 1.3882. Technical indicators are falling, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4866.
Yesterday's retest of the 1.3080 support failed and as expected the pair has accelerated its uptrend, breaking above 1.3280, reaching high at 1.3405. There is still no confirmation if that intraday high is the final of the uptrend from 1.2547, as if we see a break above 1.3405, that will automatically set a target at 1.3502. Nevertheless, current uptrend is near its completion and will soon enter a larger corrective phase towards 1.3080.
Current level - 90.35
The pair has finalized its consolidation above 90.95 at 97.48 and the general downtrend has been renewed, targeting 79.86. Trading is situated below the 50- and 200-day SMA, currently projected at 107.61 and 105.76.
With the recent break below the crucial 91.61, the pair has confirmed, that the consolidation above 90.95 is already over and the general downtrend has been renewed for 86.31, en route to 79.83. More closely speaking every bounce should be considered as a corrective one and should be limited below 90.95, preceding next leg downwards to 86.31. Crucial is 91.90
Current level- 1.4927
The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels around 1.37+. Trading is situated below the 50- and 200-day SMA, currently projected at 1.8391 and 1.9421.
Our target at 1.5148 has almost been met with yesterday's peak at 1.5119 and we believe, that this was the final of the consolidation above 1.4477, so expect a break below the dynamic support at 1.4801 to confirm, that currently a downtrend is unfolding towards 1.4477, en route to 1.4103.