EUR/USD - Slipped and Met Our Target at 1.0710 - 01/27/2017 (GMT)
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- Timeframe : 4H
EUR/USD Chart
After struggling to test the 1.0800 psychological level, the euro traded lower against the greenback over yesterday’s session indicating that we have seen a new term top at 1.0770 resistance barrier. The EUR/USD pair dropped more than 0.6% and penetrated the consolidation area 1.0710 – 1.0770 to the downside as well as, the ascending trend line. The single currency pair met our recommended target at 1.0710 (see technical analysis here: http://bit.ly/2krp5TW) and now is approaching our second level at 1.0625 but first, needs to go through the 100-SMA on the 4-hour chart.
Technical indicators, on the short-term timeframe, entered the negative area and continue to look bearish. The MACD oscillator has just slipped below the zero line while it is falling over the last sessions. The RSI indicator is moving within the 30 and 50 level and is sloping downwards. Also, the price fell below the 50-SMA after the rebound on it.
Technical indicators, on the short-term timeframe, entered the negative area and continue to look bearish. The MACD oscillator has just slipped below the zero line while it is falling over the last sessions. The RSI indicator is moving within the 30 and 50 level and is sloping downwards. Also, the price fell below the 50-SMA after the rebound on it.
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