Thursday, November 27, 2014

The EUR/USD couldn’t hold above the 1.2500 level

Yesterday we saw how the EUR/USD broke above the 1.2500 level, but it then retraced rapidly to the downside, clearly the bullish momentum was not sufficient to keep the pair above that round number level. Today there has been continuation to the downside and the pair is currently trading at 1.2466. Fundamentally the Euro could remain weak versus the Dollar and that is why we could see the price testing the 1.2400 level again.


at

8 comments:

Subscribe to: Post Comments (Atom)

WTI oil at the 200 day EMA

WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...

  • The USD/CAD in consolidation mode
    The USD/CAD gets tangled between the 21 day EMA and the 55 day EMA, also between the 1.2800 and the 1.3000. From this point the pair may go...
  • Gold continues consolidating
    The price of gold is still consolidating as shown on the daily chart between the 1281 as support and the 1304 as resistance. At the 1304 lev...
  • Pullback to a key level on the EUR/USD
    The EUR/USD has been very volatile lately, but it has not taken a clear a direction. The pair has been consolidating between the 1.2300 leve...