EURUSD Daily Analysis – December 17, 2014
EURUSD moved sideways in a trading range between 1.2247 and 1.2599.
EURUSD moved sideways in a trading range between 1.2247 and 1.2599.
EURUSD remains in downtrend from 1.2867 (Oct 15 high), the rise from 1.2280 is likely consolidation of the downtrend.
EURUSD moved sideways in a trading range between 1.2358 and 1.2599.
EURUSD failed to break below 1.3258 support and stayed in the trading range between 1.2358 and 1.2599.
EURUSD is facing 1.2358 support, a breakdown below this level will confirm that the downtrend from 1.2867 has resumed,
EURUSD failed to break above the upper line of the price channel on daily chart, indicating that the pair remains in downtrend from 1.3993.
EURUSD remains in uptrend from 1.2358, the fall from 1.2599 could be treated as consolidation of the downtrend.
EURUSD is moving inside a rising channel on its 1-hour forex chart, with price just finding resistance at the top of the range. Stochastic is moving lower, indicating that sellers are in control of price action for now. MACD is also heading down, which confirms the bearish momentum.
EURUSD’s upward movement extended to as high as 1.2577. Further rise is still possible, and next target would be at 1.2600 – 1.2650 area.
EURUSD broke above 1.2508 resistance, indicating that the downtrend from 1.2867 had completed at 1.2358 already.