EURUSD Daily Chart:
After forming another lower high at 1.1109 and EURUSD extended its slide to 1.0905 breaking 3rd of this September formed low at 1.0926, before rebounding for trading currently near 1.0940.
EURUSD is now in its third consecutive day of being below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.1098.
The pair is still well below its daily SMA50 and its daily SMA100, after short lived period above them ended to forming a previous lower high at 1.1249, while the pair is still undermined over longer range by continued trading below its daily SMA200.
Having a lower low at 1.0905 could drive the pair to continue its series of lower highs by giving it longer space to form another lower high below its recent lower high at 1.1109.
The daily chart shows that EURUSD RSI-14 is referring now to existence inside the neutral region reading 38.789.
While EURUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside the oversold territory below 20 at 12.292 leading to the downside its signal line which is higher inside the same area at 17.789, after negative crossover just below the overbought area on forming a lower high at 1.1109.
Important levels: Daily SMA50 @ 1.1081, Daily SMA100 @ 1.1163 and Daily SMA200 @ 1.1240
Experienced S&R:
S1: 1.0905
S2: 1.0838
S3: 1.0569
R1: 1.1109
R2: 1.1163
R3: 1.1249
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din
After forming another lower high at 1.1109 and EURUSD extended its slide to 1.0905 breaking 3rd of this September formed low at 1.0926, before rebounding for trading currently near 1.0940.
EURUSD is now in its third consecutive day of being below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.1098.
The pair is still well below its daily SMA50 and its daily SMA100, after short lived period above them ended to forming a previous lower high at 1.1249, while the pair is still undermined over longer range by continued trading below its daily SMA200.
Having a lower low at 1.0905 could drive the pair to continue its series of lower highs by giving it longer space to form another lower high below its recent lower high at 1.1109.
The daily chart shows that EURUSD RSI-14 is referring now to existence inside the neutral region reading 38.789.
While EURUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside the oversold territory below 20 at 12.292 leading to the downside its signal line which is higher inside the same area at 17.789, after negative crossover just below the overbought area on forming a lower high at 1.1109.
Important levels: Daily SMA50 @ 1.1081, Daily SMA100 @ 1.1163 and Daily SMA200 @ 1.1240
Experienced S&R:
S1: 1.0905
S2: 1.0838
S3: 1.0569
R1: 1.1109
R2: 1.1163
R3: 1.1249
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din