Technical Analysis

EURUSD trades to new session lows

Appears towards the low for the week

Coeure is saying that the financial slowdown is stronger and broader than anticipated and that has moved the EURUSD to new session lows. The pair is now testing – and breaking under – the low for the week at 1.1249 (simply reached 1.1243 as I kind) and checks a pattern line connecting the lows for the week.  A transfer under opens up the draw back.  Sellers are in management. 

Looks toward the low for the week

PS. the highs for the day couldn’t prolong above the pattern line, nor present momentum above the 100 hour MA. Bearish. 

ForexLive


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