EURUSD Trend Reversal (April 10, 2014)
EURUSD recently broke above a falling trend line on its 1-hour time frame, indicating that the downtrend is already over.
EURUSD recently broke above a falling trend line on its 1-hour time frame, indicating that the downtrend is already over.
EURUSD broke above the upper line of the price channel on 4-hour chart, suggesting that the downtrend from 1.3966 had completed at 1.3672 already.
EURUSD broke below 1.3705 support, and continued its downward movement from 1.3966, and the fall extended to as low as 1.3672.
The EURUSD pair initially try to rally during the session on Thursday, but fell hard enough to slam back into the 1.37 level.
EURUSD’s downward movement from 1.3966 extended to as low as 1.3705.
The EUR/USD pair bounce during the session on Monday, breaking above the 1.38 level by the end of the day, but giving back quite a bit of the gains nonetheless.
EUR/USD recently broke below a key support zone around the bottom of the rising channel on the 1-hour time frame and the 1.3800 major psychological level.
EUR/USD is moving in an uptrend, as seen on its 1-hour time frame. It is making a test of the rising trend line connecting the lows of the price while stochastic is in the oversold zone.
EURUSD’s upward movement from 1.3477 extended to as high as 1.3966.
The EUR/USD pair fell during the session on Wednesday, but as you can see bounced enough to form a hammer.