Sasha Singh
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EURUSD : Consolidating Ahead of ECB Decision

(EURUSD : 4 Hour Chart)

EURUSD is still trading within a consolidating zone. Today downbeat ADP Non-Farm employment change data and Trade Balance data also failed to push the pair above the falling resistance trend line. There is a key support at 1.3591 and breaking below it might push the pair down to 1.3548.

(EURUSD : Daily Chart)

On the daily chart the 50 day SMA is moving towards the 100 day SMA showing an emergence of bearish trend and will confirm when it will crosses below the 100 day SMA.