EURUSD Daily Analysis – September 12, 2014
EURUSD continued its sideways movement in a range between 1.2859 and 1.2987.
EURUSD continued its sideways movement in a range between 1.2859 and 1.2987.
The EURUSD pair fell hard during the session on Thursday as the European Central Bank surprised that the markets with a slight rate cut.
EURUSD remains in downtrend from 1.3411, the rise from 1.3110 is likely consolidation of the downtrend.
During a particularly line session on Monday, the EURUSD pair went nowhere.
EURUSD broke above the downward trend line on 4-hour chart, indicating that consolidation of the downtrend from 1.3700 (Jul 1 high) is underway.
EURUSD’s downward movement from 1.3411 extended to as low as 1.3152.
The EURUSD pair fell during the course of the day on Monday, continuing to show a bit of a downtrend, and consolidating in this general vicinity.
EURUSD is facing 1.3444 resistance, as long as this level holds, the price action in the trading range between 1.3333 and 1.3444
The EURUSD pair initially fell during the day on Thursday, but as you can see found support at roughly the same place it did during the Wednesday session.
The EURUSD pair fell during the bulk of the session on Tuesday, but found enough support just above the 1.3325 level in order to bounce and form a nice-looking hammer.