Before anything, I would like to thank our friend and member of this community Oasis for contacting me to propose this initiative we are starting today.
A BIG THANKS Oasis!
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.
We'll pick a winner (or maybe several winners) after everyone has had a chance to leave a comment.
Please also share it on Social Media if you don't mind! and let your traders friends know about it.
It is going to be fun!
This a great way for us to hear from our members and learn something along the way all together; we hope you take a moment to participate.
Thanks, and enjoy this friendly competition!
note: prize for this week a free 2 months subscription to FXStreet Premium. Gain full access to ALL FXStreet's webinars and its recordings.
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