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25 May 2015
EUR/USD: bears taking control? – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team gives the technical setup and key levels for EUR/USD, mentioning that 1.1060-80 might cap any upside attempts if the EUR bears are taking control.
Key Quotes
“The euro's technical tone has deteriorated sharply. The five-day moving average moved below the 20-day average for the first time in a month. Before the weekend, it recorded an outside down day by trading on both sides of the previous day's range and closing below the previous day's low. The RSI and MACDs have turned lower.”
“The euro has retraced more than 38.2% of its two-month bounce. The 50% retracement is near $1.0960. Below there support in seen in the $1.0840-80 area. The $1.1060-80 may contain upticks if the euro bears are re-taking control.”
Key Quotes
“The euro's technical tone has deteriorated sharply. The five-day moving average moved below the 20-day average for the first time in a month. Before the weekend, it recorded an outside down day by trading on both sides of the previous day's range and closing below the previous day's low. The RSI and MACDs have turned lower.”
“The euro has retraced more than 38.2% of its two-month bounce. The 50% retracement is near $1.0960. Below there support in seen in the $1.0840-80 area. The $1.1060-80 may contain upticks if the euro bears are re-taking control.”