Home EUR/USD: Recovery Runs Into Hitch

EUR/USD: Although a temporary recovery occurred on Monday, a pull back is now underway. As long as this occurs below the 1.3645 level our outlook on EUR remains lower. This exposes the 1.3441 level where a breach will aim at the 1.3400 level.

Further down, support comes in at the 1.3350 level followed by the 1.3300 level. Conversely, on ending its present weakness it should retake the 1.3831 level but before here it will have to overcome the 1.3695 level.

Further out, the 1.3900 level comes in as the next upside followed by the 1.3950 level. All in all, EUR continues to retain its downside bias in the short term.

Guest post by  FX Tech Strategy

EURUSD

FX Tech Strategy

FX Tech Strategy

FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012.