- EUR/USD has declined by over 100 pips over the past five trading days.
- The daily chart indicators signal scope for deeper declines.
EUR/USD looks set to extend the recent sell-off, as the MACD histogram, an indicator used to gauge trend strength and trend changes, has crossed into a bearish territory below zero.
The 14-day relative strength index, too, is biased bearish with a below-50 print.
The pair is currently trading near 1.17 – down 130 pips from the high of 1.1831 registered last Friday. Support is seen at 1.1612 (Sept 25 low) and 1.1602 (100-day SMA).
On the higher side, a close above last Friday's high of 1.1831 is needed to invalidate bearish pressures and put the bulls back into the driver's seat.
|Today last price||1.1707|
|Today Daily Change||-0.0001|
|Today Daily Change %||-0.01|
|Today daily open||1.1708|
|Previous Daily High||1.1758|
|Previous Daily Low||1.1688|
|Previous Weekly High||1.1831|
|Previous Weekly Low||1.1706|
|Previous Monthly High||1.2011|
|Previous Monthly Low||1.1612|
|Daily Fibonacci 38.2%||1.1715|
|Daily Fibonacci 61.8%||1.1731|
|Daily Pivot Point S1||1.1679|
|Daily Pivot Point S2||1.1649|
|Daily Pivot Point S3||1.1609|
|Daily Pivot Point R1||1.1748|
|Daily Pivot Point R2||1.1787|
|Daily Pivot Point R3||1.1817|
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