EUR/USD grinds lower on weak EMU Services PMI - FXStreet

By FXstreet.com | August 05, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the EUR/USD fell on Tuesday to 1.3380 following the release of the disappointing Eurozone PMI services numbers.



Key quotes



"Technically, failure to advance beyond the 23.6% retracement of the 1.3639/1.3366 daily fall has helped discouraging buyers."



"The hourly chart presents a strong bearish tone, as indicators continue heading south despite in oversold levels, while price stands now below its moving averages."



"In the 4 hours chart technical readings also present a bearish stance, with 1.3366 this year low coming as immediate support in route to 1.3295."



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD claws to 1.6100 ahead of Europe
    Forex News

    GBP/USD claws to 1.6100 ahead of Europe

  2. EUR/USD glued to 1.2755; triggers are wanted
    Forex News

    EUR/USD glued to 1.2755; triggers are wanted

  3. Asia recap: most majors are still sleeping in a ranges; JPY is weakening
    Forex News

    Asia recap: most majors are still sleeping in a ranges; JPY is weakening

  4. Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure
    Forex News

    Gold Struggling Below $1250, SPX 500 Trying to Retake 1900 Figure

  5. US Dollar Technical Analysis: Stalling at Channel Support
    Forex News

    US Dollar Technical Analysis: Stalling at Channel Support

Trading Center