EUR/USD Morning Technical Report 1/10/2014
ecPulse
2014-10-01 06:48AM UTC
EURUSD pair touched 113% correction at 1.2580 yesterday before rebounding slightly to the upside. But the rebound wasn't enough to change our negative expectations, whereas stability below the previous bottoms 1.2744 and trading below 1.2661 keeps the possibility of extending negativity. Due to the oversold signals showing on RSI, the pair should break 1.2580 levels to confirm extending negativity without the need for bullish corrections.
Linear Regression Indicators are negative and forms resistances which make us expect further bearishness today.
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