EUR/USD Morning Technical Report 24/10/2014
ecPulse
2014-10-24 06:55AM UTC
The pair attempted to rise yesterday but remained limited below 1.2700, and closed yesterday's trading session below the resistance 1.2660. Stability below the referred to level could extend bearishness towards 1.2580 in an attempt to break it, as RSI is moving below line 50 and MACD signal lines are trading sideways below line zero.
Hence, we bet on further bearishness intraday today but breaking 1.2625 is significant to confirm this negative outlook while breaching the descending channel earlier, and that requires breaking the referred to 1.2625. From the upside, breaching 1.2700 weakens the bearish possibility.
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