3 Feb 2014
EUR/USD starts week below 1.3500
FXstreet.com (Córdoba) - The EUR/USD started the around the same price level it closed last Friday, hovering around 1.3485. The Euro continues to trade barely above last week lows, that lie at 1.3478 and below 1.3505
After jumping almost 150 pips on January 23rd, the EUR/USD fell constantly, accelerating the decline in the last two trading days, when accumulated a loss of 180 pips.
EUR/USD weak after weekly close under 1.3500
Nial Fuller, from Learn To Trade The Market notes that the EUR/USD finished the week under the support located at 1.3505, showing no signs of bouncing. “This week, we could see more bearish momentum with key support not seen until down near 1.3300.”
From a trading point of view, Fuller affirms that any upward retraces can be watched for “potential price action selling opportunities to get short from resistanc / value in order to trade back in-line with the recent bearish daily momentum”.
After jumping almost 150 pips on January 23rd, the EUR/USD fell constantly, accelerating the decline in the last two trading days, when accumulated a loss of 180 pips.
EUR/USD weak after weekly close under 1.3500
Nial Fuller, from Learn To Trade The Market notes that the EUR/USD finished the week under the support located at 1.3505, showing no signs of bouncing. “This week, we could see more bearish momentum with key support not seen until down near 1.3300.”
From a trading point of view, Fuller affirms that any upward retraces can be watched for “potential price action selling opportunities to get short from resistanc / value in order to trade back in-line with the recent bearish daily momentum”.