Share with us your view about EURUSD. Share and Gain Prizes!

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Today, we have a fun exercise where you can participate and have a chance to win a GREAT Prize!
All you have to do is read this short EURUSD analysis from FXStreet's Analyst Valeria Bednarick published today at FXStreet and placed below, and post a quick comment with your opinion. Just share with us your technical view about the EURUSD.

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EUR/USD Current price: 1.2662

View Live Chart for the EUR/USD

Not a good day for EUR: adding to early weakness due to market rumors on failing banks over the test the ECB is leading and will release next October 26th, US inflation came out better than expected, with both monthly and yearly readings ticking higher. The EUR/USD trades at a fresh 5 day low near 1.2660 static support, with the 20 SMA presenting a strong bearish slope above current price and capping the upside now in the 1.2710 price zone. Indicators stand in negative territory, with RSI pressuring 70 and momentum still not reflecting latest slide. In the 4 hours chart technical readings present a strong bearish tone, which supports further declines on a break below mentioned support. 

Support levels: 1.2660 1.2620 1.2580

Resistance levels: 1.2700 1.2740 1.2790

Views: 1194

Comment by StopLimit on October 22, 2014 at 4:26pm

if eur/usd break 1.2620 then it can go more down.

Comment by Francesc Riverola on October 22, 2014 at 4:28pm

All you have to do is look at the EUR/USD chart posted above and give an opinion.

There is NO such thing as a bad or wrong opinion :)

Comment by Francesc Riverola on October 22, 2014 at 4:28pm

thanks StopLimit!!!!!!

Comment by Constantine on October 22, 2014 at 4:30pm

The 4Hr chart shows EUR USD to be in an overall down trend with a retracement up starting in about 6 weeks ago. It reached a high point then fell pulling back three times i.e. a triple pull back short signal which triggered and it has been in a short tight channel down since then.

It is likely to test the bottom of the original spike up at 1.2630 which is weekly S1 pivot. If it brakes this then it is likely to test the low at 1.2500 which is the weekly S2 pivot as well. Look for buy signals between 1.26 to 1.2630 and again from 1.2490 to 1.2515. Do not be put off by the speed of approach. Once the market expects a level to be tested then it will act as a magnet.

Fundamentals are not that helpful as the market makers have already decided where the market it going and momentum and oscillator indicators are lagging even if you try to use divergence.

Comment by Srini on October 22, 2014 at 4:36pm

1.2625-1.2635 area is the level to watch and most likely will be supported for another upside breakdown in my Opinion. :)

Comment by Strong manip on October 22, 2014 at 4:40pm

It can be a false breakout of triangle in H1... with the targets over 1.2770

Comment by alim uddin on October 22, 2014 at 4:54pm

i think eurousd pair create range boundary. it will touch 1.3000 level from 1.2650 level

Comment by Constantine on October 22, 2014 at 5:00pm

Addendum: There is the possibility of bouncing at 1.2650 at the bottom of a possible bull flag but if this fails then it is in a clearly defined down channel heading for test of the original 4 hour spike up at the 1.2630 level +/- 10 pips

Comment by Haitham653 on October 22, 2014 at 5:23pm

I think EURUSD will consolidate within 1.2637 - 1.2760 range with risk to break lower , below 1.2637 will open 1.2500 while above the 1.2760 will recapture the 1.2840/1.2886 levels.

EURUSD Mid-Day Forecast Oct 22 2014

Comment by Loser on October 22, 2014 at 5:24pm



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