EUR/USD Weekly Technical Report 1-5/9/2014
ecPulse
2014-09-01 06:46AM UTC
This week's trading opened to the downside which is normal in light of breaking 61.8% correction earlier. Stability below 1.3230 at 61.8% correction keeps the possibilities of further bearishness to touch 1.3050 - 1.3020 represented in 76.4% - 78.6% corrections as showing on graph.
Momentum indicators are showing oversold signals, but we will depend on the negativity showing on Linear Regression Indicators to suggested further bearishness. Of note, breaking the psychological barrier 1.3000 this week extends the downside move in the upcoming session towards 1.2960 and 1.2895.
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