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”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EURUSD Running Out of Steam On the Hint of Negative Divergence

  2. Forex News

    Forecast: Will Dollar and Equity Declines Evolve into Reversals?

  3. Forex News

    Video: Risk Reversal a Greater Danger Than Dollar Tumble Next Week

  4. Forex News

    US blip temporary, EUR/USD spread to widen - DB

  5. Forex News

    EUR/USD… resilience… or innocence?

Trading Center