EUR/USD turns technically bearish - Scotiabank

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - Camilla Sutton, analyst at Scotiabank notes that EUR/USD technical have turned bearish and the break below February lows (1.3477) paves the way to 1.3400.



Key Quotes



“EURUSD short‐term technicals: bearish studies have shifted into bearish territory with sell signals coming from the MACD, moving averages, candlesticks and a downward trend”.



“Near‐term support lies at the February low of 1.3477, a break below would open up a test to the psychological 1.3400; while resistance is at yesterday’s high of 1.3549”.



“For near‐term traders we favour short EUR positions, looking for a test to 1.3380 and using
1.3551 as our stop”.



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