Last Update At 21 Dec 2015 00:01GMT
Trend Daily Chart
Sideways
Daily Indicators
Neutral
21 HR EMA
1.0850
55 HR EMA
1.0862
Trend Hourly Chart
Sideways
Hourly Indicators
Rising
13 HR RSI
60
14 HR DMI
+ve
Daily Analysis
Consolidation b4 marginal fall
Resistance
1.0959 - Last Wed's Euroepan high
1.0905 - Last Tue's low (now res)
1.0888 - Last Wed's low (now res)
Support
1.0802 - Last Thur's low
1.0796 - Last Mon's low
1.0728 - 61.8% r of 1.0523-1.1060
. EUR/USD - 1.0873.. Although euro resumed recent upmove n climbed to a 6-week high of 1.1060 on Tue, price retreated on broad-based long liquidation in euro n fell again to 1.0832 after Fed hike interest rate, then to 1.0802 Thur.
. On the daily chart, despite euro's resumption of upmove fm Dec's fresh 7-1/2 month trough at 1.0523 to retrace the 3-legged MT fall fm 1.1715 to 1.1060 last Tue, subsequent sharp retreat 1.0802 on Thur confirms aforesaid rise has formed a top there n choppy consolidation with downside bias remains for weakness to 1.0792/96 1st, being 50% r n last week's low respectively. A daily close below there would yield further decline twd the 'dynamic' 61.8% r sup at 1.0728 later this week. In view of near term bearish outlook on euro, selling euro on recovery is still favoured but position taker should buy euro on next decline twd 1.0728. On the upside, abv 1.1013 signals correction over, 1.1060 again.
. Today, we're holding a short position in anticipation of one more fall after consolidation, however, as hourly oscillators' readings would display prominent 'bullish convergences' on such a move, 1.0728 should hold n yield strg rebound. A daily close abv 1.0905 signals low is made n would yield 1.0950/60.
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