EUR/USD Morning Technical Report 22/12/2014
ecPulse
2014-12-22 09:20AM UTC
The EUR/USD is attempting to rebound, but the pair is still stuck below 1.2280, which supports our negative expectations for further slide. Stability below the aforementioned level only suggests the downside trend is likely to target 1.2200 and 1.2110 levels. Any trading below 1.2300 is quite negative, which also supports the bearish outlook.
On the other hand, trading within the descending channel shown on the chart reflects the negativity, and likely to stretch the bearish wave. However, breaking above 1.2375 might break down our expectations.
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