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12 Aug 2013
EUR/USD 1.3300 barrier shackles pair, but for how long?
FXstreet.com (New York) - The EUR/USD foreign exchange rate has been held under lock and key following the continual testing of the 1.3300 region Monday, ultimately proving to be a formidable hurdle.
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/USDpair declined again and is currently flirting with Fibonacci 23.6% of the entire upside wave from 1.2040 to 1.3710. Risk versus reward ratio became high for bulls, as the pivotal technical resistance is near, while RSI continues to show signs of weakness close to overbought regions. In the interim, MACD attempts to confirm a slant negative divergence and thus staying aside could be the best technical choice until we get clearer signs to affirm the next big move.”
EUR/USD technical bias
After recent attempts, the EUR/USD is now operating at 1.3304 at the time of writing, now incurring a loss of -0.11% off its opening. In taking a look at the technicals, the pair faces supports that will attempt to stymie a fall at 1.3304, ahead of 1.3282, and 1.3239, notes the Mataf.net analyst team.
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/USDpair declined again and is currently flirting with Fibonacci 23.6% of the entire upside wave from 1.2040 to 1.3710. Risk versus reward ratio became high for bulls, as the pivotal technical resistance is near, while RSI continues to show signs of weakness close to overbought regions. In the interim, MACD attempts to confirm a slant negative divergence and thus staying aside could be the best technical choice until we get clearer signs to affirm the next big move.”
EUR/USD technical bias
After recent attempts, the EUR/USD is now operating at 1.3304 at the time of writing, now incurring a loss of -0.11% off its opening. In taking a look at the technicals, the pair faces supports that will attempt to stymie a fall at 1.3304, ahead of 1.3282, and 1.3239, notes the Mataf.net analyst team.