EUR/USD Open 1.4654 High 1.4683 Low 1.4603 Close 1.4659
Euro/Dollar attempted to decrease on Monday, reaching a bottom of 1.4603, where further bearish motion was limited and quotes jumped up to the 1.4683 top, as expected, closing the day at 1.4659. Signals are expected to be neutral in the short term, but the fact that the price is still below 1.4800 is an indication for potential further bearish pressure, with technical objectives towards 1.4511. Break below this level may trigger stronger decreasing impulse toward next target 1.4448. On the other hand, penetrating up the nearest resistance 1.4683 could be seen as a potential threat to the bearish scenario and lead the Euro to partial recovery towards 1.4758, followed by 1.4863. The CCI indicator is in the overbought area and downwards on the 1 hour chart, suggesting insignificant bearish pressure.
Technical resistance levels: 1.4683 1.4758 1.4863
Technical support levels: 1.4603 1.4511 1.4448
Trading range: 1.4665 – 1.4605
Trend: Downward
Sell at 1.4655 SL 1.4685 TP 1.4615
Written by iFOREX.bg
