AvaTrade - Analytics

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    EUR/USD- Selling pressure continues

    The EUR/USD pair is trading in a downward channel on a 4 hour time frame. This confirms that the trend is towards the downside. The pair is also trading below the 50 day (shown in green) and 100 day (shown in red) moving average and this further confirms the above argument. The EUR/USD is also trading in a downward facing Bollinger band and within this band. This shows that the volatility is low.

    The RSI indicator is showing a clear sign of divergence which means that while the price is making the lower low, the RSI is not confirming this.

    EURUSD  16-11-2015

     

    Important Zones

    1.056-1.0518 Support

    1.0894-1.0856 Resistance


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