EURUSD Forecast April 16, 2014, Technical Analysis
The EURUSD pair went back and forth during the session on Tuesday, forming a very neutral candle.
The EURUSD pair went back and forth during the session on Tuesday, forming a very neutral candle.
EURUSD broke below 1.3850 support, indicating that the uptrend from 1.3672 had completed at 1.3905 already.
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.
AUDUSD remains in uptrend from 0.8995, the fall from 0.9294 could be treated as consolidation of the uptrend.
EURUSD’s downward movement from 1.3966 extended to as low as 1.3705.
The EUR/USD pair tried to fall apart during the session on Tuesday, but as you can see the 1.3750 level offered enough support to push the market higher, and move it back enough to form a hammer.
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.