EURUSD bearish with no prospect of change under De Guindos
The four-hour technical analysis suggests a bearish outlook for the EURUSD , while on the fifteen-minute candlesticks it remains in the lower region of the intermediate channel. The upper boundary of the four-hour channel indicates a range in three zones, upper 1.10094 and 1.09336. Intermediate 1.09336 and 1.08157. Lower 1.08157 and 1.06579. Intermediate trading point being 1.08721.
Depending on the outcome of the ECB news this morning with Vice President De Guindos, a continuation in the long term channel can be discerned. It is very likely that the currency will remain within this range; and should the downtrend persist, several trigger zones are possible during the day. Either in the direction of the lower zone or by maintaining the price towards the middle zone. As we have indicated at the midpoint of the channel. Being 1.08721 the reference value for the current levels in trigger points in the direction of the average.
In the RSI divergence analysis, it is clear that the sellers' exhaustion zone has not yet been reached, although it is approaching. Therefore, it is crucial to check if there is a trigger zone for an upward correction within the bearish channel, and any upward correction should be limited to 1.09000.
Ion Jauregui - Analist AT
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Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Depending on the outcome of the ECB news this morning with Vice President De Guindos, a continuation in the long term channel can be discerned. It is very likely that the currency will remain within this range; and should the downtrend persist, several trigger zones are possible during the day. Either in the direction of the lower zone or by maintaining the price towards the middle zone. As we have indicated at the midpoint of the channel. Being 1.08721 the reference value for the current levels in trigger points in the direction of the average.
In the RSI divergence analysis, it is clear that the sellers' exhaustion zone has not yet been reached, although it is approaching. Therefore, it is crucial to check if there is a trigger zone for an upward correction within the bearish channel, and any upward correction should be limited to 1.09000.
Ion Jauregui - Analist AT
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
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