• 808 days Will The ECB Continue To Hike Rates?
  • 809 days Forbes: Aramco Remains Largest Company In The Middle East
  • 810 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,210 days Could Crypto Overtake Traditional Investment?
  • 1,215 days Americans Still Quitting Jobs At Record Pace
  • 1,217 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,220 days Is The Dollar Too Strong?
  • 1,220 days Big Tech Disappoints Investors on Earnings Calls
  • 1,221 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,223 days China Is Quietly Trying To Distance Itself From Russia
  • 1,223 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,227 days Crypto Investors Won Big In 2021
  • 1,227 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,228 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,230 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,231 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,234 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,235 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,235 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,237 days Are NFTs About To Take Over Gaming?
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

EUR/USD - Riding Downtrend Channel

EUR/USD is consolidating around 1.0600 and remains in a downtrend channel. The technical structure is clearly negative. Hourly support at 1.0591 (23/11/2015 low) has been broken. New hourly support lies at 1.0566 (intraday low). Hourly resistance can be found at 1.0763 (19/11/2015 high). Stronger resistance stands at 1.0897 (05/11/2015 high). Expected to show continued weakness.

In the longer term, the technical structure favours a bearish bias as long as resistance holds. Key resistance is located region at 1.1453 (range high) and 1.1640 (11/11/2005 low) is likely to cap any price appreciation. The current technical deteriorations favours a gradual decline towards the support at 1.0504 (21/03/2003 low).

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment