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4 Oct 2013
EUR/USD losing momentum? Gains wiped out
FXstreet.com (Chicago) - EUR/USD succumbed to bearish pressure after extending escalation and respecting the short-term upward trendline. Falling back to 1.3620, the pair trades close to session lows and continues sideways rhythm after 9-month spike to 1.3650 highs reached yesterday, still strong with 0.75% pips gains this week so far.
EUR/USD Technical Levels
Technically speaking, the pair extends the upward trendline from July 8th printing higher lows and highs on medium term. Offered at 1.3621, the pair oscillates between supports aligned at 1.3564 (September 13th highs), 1.3461 (August 20th highs) ahead of 1.34 (August 8th highs) and the resistances set at 1.3632 (session highs), 1.3716 (January 31st highs) followed by 1.3816 (October 30th 2011 highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe above the EMA20.
EUR/USD Technical Levels
Technically speaking, the pair extends the upward trendline from July 8th printing higher lows and highs on medium term. Offered at 1.3621, the pair oscillates between supports aligned at 1.3564 (September 13th highs), 1.3461 (August 20th highs) ahead of 1.34 (August 8th highs) and the resistances set at 1.3632 (session highs), 1.3716 (January 31st highs) followed by 1.3816 (October 30th 2011 highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe above the EMA20.