EUR/USD Weekly Technical Report 20-24/1/2014
ecPulse
2014-01-20 08:08AM UTC
The drop last Friday broke the bullish key support level of the ascending channel as showing on graph reversing trading below 1.3665 levels to negative and might extend the downside move this week.
Of note, stabilizing below 1.3520 is required to confirm bearishness and limit any bullish correction. Linear Regression Indicators and MACD are negative. But momentum indicators require stability below 1.3595 so the pair won’t respond to the oversold signals showing on Stochastic.
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