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Forex pairs in this Article » EUR/USD (Chicago) - EUR/USD dipped below the 1.3470 zone momentarily at the closing of Wall Street. The pair maintains 8-month altitudes but hovers right above the upward trendline that originated last September 5th.

Europeans beat

Wall Street closed with overall negative results with the Dow down 0.43%, the S&P500 down 0.26% and the Nasdaq up 0.08%. In Europe, the indexes closed with gains with the DAX up 0.34%, the CAC 40 up 0.56% and the Euronext 100 up 0.40%.

EUR/USD Technical Levels

Price action reveals the failed attempt to consolidate above the 1.35 zone after the pair reached highs at 1.3520. Falling back to 1.34, the pair is offered at 1.3471 and oscillates between the supports aligned at 1.3450 (August 19th highs), 1.3413 (August 26th highs) ahead of 1.3372 (August 16th highs) and the resistances set at 1.3509 (September 19th lows), 1.3563 (September 18th highs) followed by 1.36 (February 1st highs). Breaking the upward trendline that originates last September 6th, price movement reveals heavy bearish pressure. The primary trend remains bullish but the secondary trend seems to be reversing. According to the trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered below the EMA20.
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