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11 Jun 2014
EUR/USD: Sellers keep pressing into lower levels
FXStreet (Bali) - EUR/USD is trading at 1.3533, down -0.10% so far since the NY close, having posted a daily high at 1.3548 and low at 1.3533.
How strong has the move been?
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. Currently RSI is at 35.96, up from the last hourly print at 29.20, with ADX at 14.95, up from its previous close at 13.61. Daily RSI sits at 38.41, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 1.3591, down from the last close at 1.3611 and declining. Over the past 20 days, the exponential average closing price is 1.3662, and ranging.
EUR/USD technicals
According to Jim Langlands, Founder at FXCharts: "Technically, the hourly charts are now at oversold extremes and are trying to turn a bit higher, and with no data due once again from the EU or the US, it looks as though it may be a session of consolidation, with the chance of a minor short squeeze." Jim suspects that "any short term rally would appear to be a sell opportunity for a run below today’s 1.3533 low, towards 1.3518 (38.2% of 1.2754/1.3995) and then to Friday’s spike low at 1.3502."
How strong has the move been?
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish. Currently RSI is at 35.96, up from the last hourly print at 29.20, with ADX at 14.95, up from its previous close at 13.61. Daily RSI sits at 38.41, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 1.3591, down from the last close at 1.3611 and declining. Over the past 20 days, the exponential average closing price is 1.3662, and ranging.
EUR/USD technicals
According to Jim Langlands, Founder at FXCharts: "Technically, the hourly charts are now at oversold extremes and are trying to turn a bit higher, and with no data due once again from the EU or the US, it looks as though it may be a session of consolidation, with the chance of a minor short squeeze." Jim suspects that "any short term rally would appear to be a sell opportunity for a run below today’s 1.3533 low, towards 1.3518 (38.2% of 1.2754/1.3995) and then to Friday’s spike low at 1.3502."