EUR/USD Continues Decline, Targeting Below 1.3270
Masterforex-V | Aug 21, 2014 02:18AM ET
Important levels in the EUR/USD today have the following meanings: the pair is trading down 0.31% at 1.3278. Support at 1.3254 (low of 13 September 2013), 1.3243 (low of 11 September 2013) and 1.3230 (low of 10 September 2013). Break of 1.3364 (maximum August 19) will open the way to 1.3392 resistance (21-day MA) and 1.3399 (18 high-August).
EUR/USD will continue to sell. The price is still trading below the moving average EMA (50 and 100) and the Ichimoku cloud, suggesting a bearish market advantage. MACD averages are below zero, continuing to fall, point to further descent price. Pulses lying at zero, say yet quite weak activity in the market. Significant levels: Buy - 1.3367; 1.3418; Sell - 1.3313; 1.3254. Objectives: Sell your nearest support level - 1.3254.
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