EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are rising, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4721.
The negative bias has been sustained and with current break below 1.2683, the pair aims at 1.2612 and 1.2554. Only a break above 1.2750 will switch the overall sentiment to bullish.
Current level - 97.61
A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 90.78 and 100.29.
With yesterday's peak at 98.70 the pair has completed the uptrend from 92.62, so now the bias is neagtive for 96.31, en route to 94.64.
Current level- 1.4203
The pair is in a larger corrective phase towards 1.60+, after bottoming at 1.3506. Trading is situated below the 50- and 200-day SMA, currently projected at 1.5505 and 1.8341.
Although the pair spiked above 1.4578 resistance, a sharp reversal followed, initiating a fast downtrend to 1.4159. Yesterday's test of the 1.4365 resistance failed and the pair is aiming at the 1.4020-50 support zone again
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