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30 Oct 2014
EUR/USD below 1.2690 area on Thursday - FXStreet
FXStreet (Łódź) - FXStreet Editor and Analyst Omkar Godbole notes that EUR/USD is trading lower today at 1.2596 , with the daily RSI bearish at 40.21.
Key quotes
"Moreover, the prices are trading below the multiple support levels located around 1.26."
"However, the hourly RSI has hit the oversold territory which may lead to a slight correction in the pair."
"The hourly chart shows that the pair has breached the head and shoulder neckline level of 1.2618."
"Thus, a fresh demand for the USD can be anticipated around 1.2615-1.2630 levels today."
"Moreover, the bulls are unlikely to come-in so long as the pair trades below 1.2690 levels."
"Meanwhile, a failure to rise above the Head and Shoulder neckline level of 1.2618, shall open doors for 1.25 levels on the downside."
Key quotes
"Moreover, the prices are trading below the multiple support levels located around 1.26."
"However, the hourly RSI has hit the oversold territory which may lead to a slight correction in the pair."
"The hourly chart shows that the pair has breached the head and shoulder neckline level of 1.2618."
"Thus, a fresh demand for the USD can be anticipated around 1.2615-1.2630 levels today."
"Moreover, the bulls are unlikely to come-in so long as the pair trades below 1.2690 levels."
"Meanwhile, a failure to rise above the Head and Shoulder neckline level of 1.2618, shall open doors for 1.25 levels on the downside."