Subscribe to RSS

EUR/USD Forecast: correcting higher, but still bearish

e

The EUR/USD pair extended its decline down to 1.0833, bouncing from the level early Europe, as stocks opened with a negative tone and Swiss CPI readings came out better-than-expected, triggering spikes in all of the European currencies.

View the Live chart of the EUR/USD

The pair trades near its daily high, set at 1.0891, ahead of the release of the EU Retail Sales, expected to have advanced 0.2% in September. Nevertheless, the technical picture suggests that the current recovery is barely a correction in the middle of its bearish trend, given that the price remains well below a sharply bearish 20 SMA, whilst the technical indicators are bouncing from oversold readings, as seen in the 4 hours chart.

The upward corrective movement can extend above 1.0900, towards the 1.0960 price zone, and even up to 1.1000, should the greenback remain under pressure, particularly because the pair has tested a major long term static support. However, the bearish trend remains firm in place, and selling at higher levels is still seen as an attractive trade. Renewed selling pressure below 1.0840 on the other hand, may see the pair extending down to 1.0800, whilst a break below it should fuel the decline and see the price extending down to 1.0750 in the short term.

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

$30 Free Forex Welcome Bonus Promotion – Wmforex

$30 Free Forex Welcome Bonus Promotion – Wmforex(0)

$30 Free Forex Welcome Bonus Promotion to All new account. The $30 Free Forex Welcome Bonus can be received only on accounts with the type Market-Cent and the base currency USD Link:  $30 Free Forex Welcome Bonus Promotion Available to: All new account Ending Date: 31 May 2017 Bonus offer: $30 Free Forex Welcome Bonus

200% Withdrawable Cashback Bonus Rebates – ForexTime

200% Withdrawable Cashback Bonus Rebates – ForexTime(0)

Forget Loyalty Points, ForexTime Rewards Loyalty in Up to 200% Withdrawable Cashback Bonus Rebates Promotions and get $4 Cashback Rebate Bonus for every lot you trade. Link:  200% Withdrawable Cashback Rebates Link:  $4 Cashback Bonus for Every Lot Link:  $25 Countdown Credit Bonus 2017 Ending Date: 31 December 2017 Available to: All Customers Bonus Offer:

$5000 BitCoin Rewards Bonus Forex Promotion – UFX

$5000 BitCoin Rewards Bonus Forex Promotion – UFX(0)

$5000 BitCoin Rewards Bonus Forex Promotion. Only with UFX Broker can you Trading  BitCoin without the need of a Bitcoin exchange or any complicated Bitcoin wallets and addresses. Link:  $5000 BitCoin Rewards Bonus Promo Link:  $50 Free and Trade in Three Steps Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promotion

300% Tradable Bonus Promo up to $3000 – MarketsYes

300% Tradable Bonus Promo up to $3000 – MarketsYes(0)

300% Tradable Bonus Promotion up to $3000. MarketsYes is offering all prospective clients’ deposit for up to 3000 USD/EUR/GBP a 300% Forex Tradable Bonus. Link:  300% Tradable Bonus Promotion Link:  Risk Free Trade plus Forex Free Signals Available to: All new traders Ending Date: 31 December 2018 Bonus Offer: 300% Tradable Bonus Promotion up to

Get 300% Ramadan Welcome Bonus Campaign – FBS

Get 300% Ramadan Welcome Bonus Campaign – FBS(0)

Get 300% Ramadan Welcome Bonus Campaign. Register a Ramadan Forex Live Trading Account now and get a 300% Ramadan Welcome Bonus Campaign for deposits starting from $100 Link:  300% Ramadan Bonus Campaign Link:  $123 Forex No Deposit Bonus Link:  100% Deposit Bonus Promotion Available to: All new traders Ending Date: 31 December 2018 Bonus Offer:

$100 Binary Options No Deposit Bonus Contest – AYREX

$100 Binary Options No Deposit Bonus Contest – AYREX(0)

$100 Free Binary Options No Deposit Bonus Contest is a competition open to all AYREX account holders via demo accounts created automatically upon registration and used solely for contest participation Link:  $100 Free Win in Just One Hour Link:  $30 Binary Options No Deposit Bonus Link:  30% Binary Options Deposit Bonus Contest Ending Date: 31

$50 Free Bonus Promotion Start Trading Bitcoin – UFX

$50 Free Bonus Promotion Start Trading Bitcoin – UFX(0)

Get a $50 Free Bonus Promotion Start Trading Bitcoin with UFX. Forex Trading Bitcoin with UFX is simple and gives you the opportunity to increase your return whether BTC prices RISE or FALL Link:  $50 Free and Trade in Three Steps Link:  $50 Free No Deposit Bitcoin Bonus Link:  100% Real Money CashBack Promotion Available

30% Binary Options Welcome Bonus up to $1000 – Ayrex

30% Binary Options Welcome Bonus up to $1000 – Ayrex(0)

30% Binary Options Deposit Bonus Up to $1000 to all new Traders. Welcome Bonus can be applied to a deposit that equals 100 EUR/USD or a larger amount Link:  $100 Free Win in Just One Hour Link:  $30 Binary Options No Deposit Bonus Link:  30% Binary Options Deposit Bonus Ending Date: 31 December 2018 Bonus

Up to 200% Bonus Forex and Binary Options – Grand Capital

Up to 200% Bonus Forex and Binary Options – Grand Capital(0)

Up to 200% Bonus Forex and Binary Options Promotion to your Deposit to All clients. The Bonus Promo size ranges from 60% to 200%, depending on the account type, deposit amount and the term of trading with Grand Capital. Link:  Up to 200% Bonus to your Deposit Link: Up to 444% Profit Receive for a

$15 Cashback Rebate Bonus per Lot Traded – FBS

$15 Cashback Rebate Bonus per Lot Traded – FBS(0)

Get $15 Cash back Rebate Bonus per Lot Traded to All new traders. $15 Cashback Rebate Bonus service is unavailable for the clients, who registered their accounts via their partners. Link:  $123 Free Special Bonus Promotion Link:  100% Deposit Bonus Promotion Link:  $88.8 Lucky No Deposit Required Bonus (for Malaysian traders) Available to: All new

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories