Back
24 Dec 2014
EUR/USD may see a sell-off towards 1.2132 – FXStreet
FXStreet (Barcelona) - FXStreet Analyst and Editor, Omkar Godbole, anticipates a fresh sell-off for EUR/USD towards 1.2132 levels if the pair falls below 1.2164 levels.
Key Quotes
“The EUR/USD pair finished lower at 1.2171 levels, after closing below the 200-month MA located at 1.2230 in previous two sessions. Nothing much is happening today as the pair trades marginally higher at 1.2180 levels, with daily RSI bearish at 36.39 levels.”
“Meanwhile, the hourly chart shows, the pair is stuck in the range of 1.2180 to 1.2164 levels since the yesterday’s US session. Moreover, the hourly 50-SMA continued to act as a strong resistance yesterday.”
“Thus, the pair may re-test the hourly 50-SMA levels located today at 1.2217, if it manages to rise above 1.2180 levels.”
“On the other hand, a renewed sell-off towards 1.2132 levels can be anticipated if the pair falls below 1.2164 levels.”
Key Quotes
“The EUR/USD pair finished lower at 1.2171 levels, after closing below the 200-month MA located at 1.2230 in previous two sessions. Nothing much is happening today as the pair trades marginally higher at 1.2180 levels, with daily RSI bearish at 36.39 levels.”
“Meanwhile, the hourly chart shows, the pair is stuck in the range of 1.2180 to 1.2164 levels since the yesterday’s US session. Moreover, the hourly 50-SMA continued to act as a strong resistance yesterday.”
“Thus, the pair may re-test the hourly 50-SMA levels located today at 1.2217, if it manages to rise above 1.2180 levels.”
“On the other hand, a renewed sell-off towards 1.2132 levels can be anticipated if the pair falls below 1.2164 levels.”