The EURUSD trend needle continues to point south and the pair is trading lower today. A fresh trend low yesterday reinforces bearish conditions. The 1.0713 objective has been breached, the Mar 24 low and this paves the way for a move towards 1.0653 next, a Fibonacci retracement point and the next key support. A firm resistance is seen at 1.0824, the 20-day EMA. Clearance of this average is required to ease current bearish pressure.

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

Taso Anastasiou

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

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Bear Cycle Remains In Play