fxtrends
Long

Set to correct, but don't expect much..

FX:EURUSD   Euro / U.S. Dollar
216 0 2
The EUR/USD             is at a record oversold weekly RSI condition after breaking down to fresh cyclical lows on Wednesday. The 7-period weekly RSI is registering a sub-10 reading, which is very rare for the Euro             or any major currency pair. This alone should limit further downside, but subsequent rallies are expected to be shallow due to the weak fundamentals and low market sentiment.

Current price-action appears to be in a bearish channel , testing the lower bounds. Short-term momentum, however, remains in the bears favor, given Wednesday's downward thrust. Key support at 1.2747 could be the next stop until the beginning of the new month. That said, Wednesday's move looks exhaustive and could be vulnerable to a small false-break pattern.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out