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EURUSD resided again for trading near 1.088

Discussion in 'Current Market Sentiments' started by fx-recommends, Jan 28, 2016.

  1. fx-recommends

    fx-recommends Content Contributor

    Aug 6, 2008
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    EURUSD Daily 28-01-2016 06-53-14 ص.jpg

    EURUSD returned to keep trading near 1.088 after dipping to 1.0776 on the ECB president Draghi's hint that "The ECB may reconsider its policy stance in March amid a deteriorating economic outlook and turmoil in global markets". After turning back to 1.088 area, The pair parameters are referring now to balanced situation having its daily RSI-14 nearly in the middle of neutral region reading now 51.178 and also its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in the neutral region reading 65.057 leading to the upside its signal line which is reading now 49.208.

    The pair is still below the trendline resistance extension from 1.3992 to 1.1712, after failing to rise above its daily SMA100 by facing experienced resistance at 1.0991. however it is still trying to keep existence above its daily SMA50.

    The pair is now in its day number 10 of continued existence above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.0754.

    Important levels: Daily SMA50 @ 1.0841, Daily SMA100 @ 1.0976 and Daily SMA200 @ 1.1054


    S1: 1.0776
    S2: 1.0709
    S3: 1.0519
    R1: 1.0991
    R2: 1.1058
    R3: 1.1098

    Have a good day

    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid

    Tel: UK. +44 1138590277
    Mob: EGY. +20 1224659143

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    #1 fx-recommends, Jan 28, 2016
    Last edited: Jan 28, 2016

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