EUR/USD declines fast and trades below 1.3600

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (San Francisco) - The Euro is trading down against the USD right now as upbeat consumer confidence in the US is fueling the greenback and a set of sell orders have been activated.



After falling 35 pips from today's highs at 1.3630 priced in the European morning, the EUR/USD declined to test 1.3590 area. Currently, EUR/USD is trading at 1.3600, down 0.03% on the day, having posted a daily high at 1.3630 and low at 1.3590.



EUR/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.



EUR/USD sentiment



According to Gerry Davies from FXBeat, the flow-wise says "buy orders clustered 1.3575/80 and more 1.3540/50," on the downside. To the upside, "sell orders clustered 1.3615/25 and more 1.3640/50, buy stops gathering through 1.3655."



comments powered by Disqus
Related Forex Analysis
  1. Session Recap: Artificial growth does not feed the USD
    Forex News

    Session Recap: Artificial growth does not feed the USD

  2. EUR/USD holding on above 1.2600
    Forex News

    EUR/USD holding on above 1.2600

  3. EUR/USD extends gains to 1.2640
    Forex News

    EUR/USD extends gains to 1.2640

  4. EUR/USD 1.2700 is Resistance Now
    Forex News

    EUR/USD 1.2700 is Resistance Now

  5. US Dollar Forecast to Rally Further, but Why Have Risks Grown?
    Forex News

    US Dollar Forecast to Rally Further, but Why Have Risks Grown?

Trading Center