FXstreet.com (Barcelona) - Euro decline from 1.3300 high on Friday has taken a break after hitting 1.2985 intra-week low on early European session, to set an assault to 1.3035/50 area.
Despite the slight pick up, Tim Salem, collaborator at FXstreet.com observes that the Euro is trading under a bearish influence with room for more decline: Bearish Sentiment in the Immediate-Term finds Confirmation with the Hourly 20SMA/200SMA Bearish Cross, as Price consolidates on Daily Static Support at 1.3005. Slight RSI Readings of 35 indicate further Continuation dynamically to 1.2934 followed by 1.2891, and finally 1.2878 Low for potential Double-Bottoming Behavior.
On the upside, Salem advances the possibility of an upside correction targeting 1.3180 first: Risk to the Upside for Corrective Appreciation sees the 1.3082 Daily Pivot followed by Static Resistance at 1.3124 where Bullish Momentum and Bias may take hold with Buoyancy to the Dynamic 1.3166 Dynamic Area.
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