Short-term momentum studies support more falls. The RSI fell and remained in the oversold territory, after 'hitting' on the 30 line resistance, while the MACD remains below the zero line and signal. R3 - 1.19828 R2 - 1.19393 R1 - 1.18885 Daily Std. Pivot - 1.18450 S1 - 1.17942 S2 - 1.17507 S3 - 1.16999 https://bewayopa.wordpress.com/
EURUSD fell during yesterday session, testing the 1.18 level but technically, the pair remains very bearish but also much oversold, leaving us looking for a short-term bullish correction under 1.18, probably toward 1.20 where we once again expect to see sellers as long as the same fundamental environment remains unchanged.
EUR / USD continued to fall after the known CPI data from the Euro zone. Deflation began in December. The positive difference between the price and the RSI discloses a descending deceleration time, and therefore would be prudent about a lowest possible recovery before the next descending phase. Still short-term outlook remains negative even with the rate negotiating within a downlink channel. R3 - 1.19828 R2 - 1.19393 R1 - 1.18450 Daily Std. Pivot - 1.18450 S1 - 1.17942 S2 - 1.17507 S3 - 1.16999 https://bewayopa.wordpress.com/
EUR/USD broke below 1.1800 and fell even lower, reaching 1.1750, but finally formed a hammer candlestick in the four hour filter chart. Considering how oversold the pair is that hammer is likely a signal for a consolidation. That said, I think the pair will eventually reach 1.1700 sooner or later.
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