EUR/USD currency pair is experiencing a bearish trend, making the EUR to depreciate over the USD, today's trader should however sell the euro and buy the dollar since the technical analysis and moving averages suggest that the pair is going bearish at about 12:25pm the market is at 1.11757, hence expect a fall to 1.11000 thereabout. let look at the overview below.
WATCH ENTRY SPOT 1.11757
STOP LOSS 1.12712
EXIT SPOT 1.11000
INDICATOR SELL'
NEWS ON EUR/USD
FXStreet (Edinburgh) - EUR/USD keeps the negative ground in the mid-1.1200s so far, pending cues for Greek headlines in an otherwise very light session data wise.
Emmanuel Ng, FX Strategist at OCBC Bank, suggested With news flow surrounding Greece curdling slightly, the EUR may be expected to remain under pressure, especially if bund yields remain subdued
into the weekend. If 1.1200 gives way, expect the pair to gravitate towards its 100-day MA (1.1062) while 1.1400 is still expected to cap.
Furthermore, Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair continues to struggle at the 1.1380/87 resistance (4th June high) the recent breach of the 23014-2015 downtrend has not been sustained to leave our outlook unchanged. The near term risk still remains for failure and a slide to the 1.1052 pivot then the 1.0845/19.
