International Trading
FXstreet.com (Barcelona) - Euro recovery attempt from yesterday's low at 1.2825 has been short lived, as the pair was capped at 1.2930 high on early European session before pulling back aggressively, breaking below 1.2825 and fresh 2-week lows right above 1.2800.
The pair remains biased to the downside, according to Stoyan Mihaylov, technical analyst at Deltastock.com, targeting 1.2720 area: "The overall bias remains bearish and current rebound above 1.2829 is corrective in nature, preceding next slide towards 1.2720 reversal area. The resistance at 1.2960-80 should cap the upside for the next sell-off."
Next support levels below 1.2830, according to Mihaylov, lie at 1.2720 and 1.2470. On the upside, resistance levels are 1.2980, 1.3080 and 1.3350.
EUR/USD (Aug 14 at 06:42 GMT)
H 1.27585 L 1.27495
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.2715 | 1.2747 | 1.2778 | 1.2792 | 1.2824 | 1.2856 |
| [?]Trend Index | [?]OB/OS Index |
| Strongly Bullish | Neutral |
| Data updated on Aug 13 at 18:45 (15-minute timeframe) |
[ View EUR/USD Technical Studies ]
