EUR/USD Morning Technical Report 23/10/2014
ecPulse
2014-10-23 06:54AM UTC
The pair dropped yesterday and is trading below a previous bottom at 1.2661. Trading below the referred to level is negative and could trigger a new attempt to the downside towards 113% corerction at 1.2487 levels. Today, 1.2580 is the significant interval of extending bearishness, but trading below 1.2700 keeps the negative possibility valid.
RSI failed to stabilize above line 50 and MACD failed to keep positivity ongoing, and its signal line reversed from levels below lone zero. These catalysts support our negative expectations.
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