After repeated failure to surpass 1.1880 resistance, EURUSD extended its retreating to be now near 1.1630 above but close to its supporting level at 1.1612 which has been formed on last Jul. 26.
EURUSD is trading in its fifth day below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading now 1.1861.
EURUSD could bounce up last Friday from 1.1669 to keep its supporting level which has been formed at 1.1662 on last Aug. 17 unbroken.
EURUSD is now below 23.6% Fibonacci retracement level of its rising this year from 1.0340 to 1.2092.
After the recent increasing of the downside momentum following failing to keep a place of it above its daily SMA50, EURUSD extended its falling to be now below its daily SMA100 in another dovish sign.
But it is still underpinned over longer range by continued being above its daily SMA200, After forming a series of higher lows had started with its formed bottom at 1.0340 on the third day of this year to be the lowest level of the pair since December 2002.
EURUSD daily RSI-14 is referring now to existence in a lower place inside the neutral region reading 36.888.
EURUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in its oversold area below 20 at 17.695 leading to the upside its signal line which is still in the neutral region at 27.127 lower.
Important levels: Daily SMA50 @ 1.1842, Daily SMA100 @ 1.1677 and Daily SMA200 @ 1.1243
S&R:
S1: 1.1612
S2: 1.1479
S3: 1.1366
R1: 1.1880
R2: 1.2032
R3: 1.2092
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
EURUSD is trading in its fifth day below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading now 1.1861.
EURUSD could bounce up last Friday from 1.1669 to keep its supporting level which has been formed at 1.1662 on last Aug. 17 unbroken.
EURUSD is now below 23.6% Fibonacci retracement level of its rising this year from 1.0340 to 1.2092.
After the recent increasing of the downside momentum following failing to keep a place of it above its daily SMA50, EURUSD extended its falling to be now below its daily SMA100 in another dovish sign.
But it is still underpinned over longer range by continued being above its daily SMA200, After forming a series of higher lows had started with its formed bottom at 1.0340 on the third day of this year to be the lowest level of the pair since December 2002.
EURUSD daily RSI-14 is referring now to existence in a lower place inside the neutral region reading 36.888.
EURUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in its oversold area below 20 at 17.695 leading to the upside its signal line which is still in the neutral region at 27.127 lower.
Important levels: Daily SMA50 @ 1.1842, Daily SMA100 @ 1.1677 and Daily SMA200 @ 1.1243
S&R:
S1: 1.1612
S2: 1.1479
S3: 1.1366
R1: 1.1880
R2: 1.2032
R3: 1.2092
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
