Dollar comes back in thin Monday – FXStreet

By FXstreet.com | June 10, 2014 AAA

FXStreet (Barcelona) -FXStreet Chief Analyst Valeria Bednarik notes that on Monday the EUR/USD not only faltered to extend beyond critical 1.3680 resistance but broke below the 1.3600 figure early US session and held below it afterwards, with nothing or little going on across the forex board.



Key quotes



“EUR/USD extended up to 1.3668 on the day, yet failed also in sustain gains above its 200 DMA, giving a hard time to bulls for third week in a row.”



“Short term, the hourly chart presents a quite strong bearish tone as per price accelerating below moving averages and indicators near oversold levels.”



“In the 4 hours chart indicators gain bearish slope slowly extending into negative territory, as price stands below moving averages. Further downward pressure is seen on a break below 1.3570 immediate support, looking then for a probable test of past week low of 1.3502.”



comments powered by Disqus
Related Forex Analysis
  1. EUR/USD sitting just above 1.2950 support
    Forex News

    EUR/USD sitting just above 1.2950 support

  2. Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data
    Forex News

    Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data

  3. USD/JPY drifting lower, but still well above 107.00
    Forex News

    USD/JPY drifting lower, but still well above 107.00

  4. Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping
    Forex News

    Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping

  5. USD/JPY Technical Analysis: Prices Set New Six-Year High
    Forex News

    USD/JPY Technical Analysis: Prices Set New Six-Year High

Trading Center