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18 Sept 2014 EUR/USD Analysis

Amandeep Sonewane | Sep. 18, 2014

EURUSD, EUR/USD, Euro, Technical Analysis, Forex, Trading EUR/USD ends the previous day bearish, closes below 1.286

EURUSD, EUR/USD, Euro, Technical Analysis, Forex, Trading Supporting trendline fails to hold as EUR/USD breaks the ascending triangle to previous low on 9th Sept

EURUSD, EUR/USD, Euro, Technical Analysis, Forex, Trading Short term support at 1.2842

EUR/USD comes to a standstill yesterday after a minor bullish breakaway towards 1.3000 prior to the FOMC projections. The subsequent break below of the supporting trendline saw the pair attain 1.284 and likely to continue lower if  1.29 holds as resistance. Any higher we will see resistance at 1.2976 as highlighted by the red line but failure to break into the ascending triangle formation again the short term seems to swing bearish as we can see the Traditional MACD falling below after gains in the week.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight Bearish
1.274
1.2768
1.279
1.289
1.2976
1.3000
 1.2946
1.2986
1.279

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