Sasha Singh
All posts from Sasha Singh
Sasha Singh in Sasha Singh,

EURUSD : Still Seems Bearish

(EURUSD : 4 Hour Chart)

EURUSD moving back to its previous lows after surging in response to the weak US Retail Sales and Unemployment Data. On the 4 hour chart, the pair is currently trading between the support and resistance at 1.3517 and 1.3571 respectively. There is also a falling resistance trend line from which the pair is experiencing resistance so looking forward the pair will be consolidating between this resistance trend line and the support at 1.3517. On the stochastic oscillator the %K line just crossed the %D line showing a bearish movement. Also if the pair will not break the falling resistance trend line it will reflect a pattern of descending triangle which again reflect bearish movement.