FXstreet.com (Barcelona) - After bottoming at 1.2331 (Oct.28,2008), the pair has initiated a clear consolidation. The 4-hour chart shows a bearish cross has formed on the Slow Stochastic Oscillator, indicating a potential depreciation of the price. However, the daily chart's Slow Stochastic shows a bullish cross. The recommendation from Greg Holden, analyst at ForexYardDay is: Traders may look to go short, while swing traders may want to go long today.
EURUSD moved up and now is on the trend line. Positive move towards resistance line at 1.3339 would mean crash of the negativeness, said Tomas Cedavicius, Forex-Trends.com. Move of the price below the support line would be confirmation of the negative trend and selling is a better option for now, he added.
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