EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.3064 and 1.3524.
Yet, there are no signs of a reversal here, but a break below 1.3915 will signal, that the minor uptrend from 1.3877 is over and a downtrend is on the run, aiming at 1.3830, en route to 1.3746. While 1.3915 support is intact, current bias is to be considered positive for 1.4072
Current level - 93.12
A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated below the 50- and 200-day SMA, currently projected at 98.13 and 97.75.
Still in the 93.82-91.72 range and we are expecting negative bias to be renewed soon, for a break below 91.72, towards 89.60.
Current level- 1.6302
The pair is in an downtrend, after peaking at 1.6746. Trading is situated above the 50- and 200-day SMA, currently projected at 1.4778 and 1.5510.
We believe, that current rise from yesterday's low at 1.6031 is the third part of the consolidation above 1.5982, so although the intraday trend is intact, a break below 1.6225 will signal a major downswing for 1.5778, en route to 1.5352.