EUR/USD Open 1.4318 High 1.4443 Low 1.4290 Close 1.4310
Euro/Dollar attempted to increase on Thursday, sliding over the 1.4443 top, where bulls ran out of strength, and quotes tumbled down to the 1.4302 bottom, closing the day at 1.4310. On the 1 hour chart the bullish break was not convincing, therefore it can be regarded as a correction only, and the currency couple continued weakening. On the same chart EUR/USD is still trading within the 1.4229 – 1.4484 range. Break bellow 1.4229 may weaken the European currency further towards 1.4165, while penetration on the 1.4484 top might give advantage to the bulls with possible test of 1.4582. The CCI indicator is had crossed down the 100 line on the 1 hour chart, suggesting bearish pressure.
Technical resistance levels: 1.4443 1.4532 1.4627
Technical support levels: 1.4290 1.4165 1.4079
Trading range: 1.4325 – 1.4260
Trend: Downward
Sell at 1.4313 SL 1.4343 TP 1.4273
Written by iFOREX.bg
