Monday 29 February 2016

EUR/USD Is Falling




EUR/USD is moving to the downside again after it failed to break above the resistance at 1.1380. What is more, the pair finally broke below the support at 1.0900 and is currently testing the support at 1.0870 so it can continue towards 1.0800. Considering the multi-week range that is visible on the weekly time-frame, I would say that the long-term target for the pair is at 1.0600. A continuation of the long-term bearish trend, however, will not be confirmed before the pair manages to break below the last low at 1.0460.
Posted by at
Labels: ,

4 comments:

  1. Unknown29 February 2016 at 10:51

    Excellent analysis, I see the same as well.

    ReplyDelete
  2. Unknown29 February 2016 at 11:00

    Very accurate assessment!

    ReplyDelete
  3. Unknown1 March 2016 at 07:10

    Not a lot of action today, but the pair remains in the negative territory.

    ReplyDelete
  4. Unknown1 March 2016 at 11:00

    The fall looks inevitable.

    ReplyDelete

Subscribe to: Post Comments (Atom)