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3 Nov 2014
EUR/USD trading weak today at 1.2485 levels - FXStreet
FXStreet (Łódź) - FXStreet Editor and Analyst Omkar Godbole points out that after closing the week at 1.2525 levels EUR/USD is trading lower on Monday near 1.2485.
Key quotes
"The pair has breached the support located at 1.25 levels , although we could see a correction owing to the oversold nature of the hourly RSI."
"Moreover, the Price-RSI bullish divergence has been confirmed on the hourly chart, which opens doors for a re-test of 1.2540 levels."
"However, the pair is unlikely to rally so long as it trades below 1.25 levels."
"Meanwhile, the pair may dip to 1.2439 levels if the prices struggle near the resistance located at 1.25 levels."
"The bullish divergence seen on the hourly chart would fail in case the pair falls back to 1.2439 levels today."
Key quotes
"The pair has breached the support located at 1.25 levels , although we could see a correction owing to the oversold nature of the hourly RSI."
"Moreover, the Price-RSI bullish divergence has been confirmed on the hourly chart, which opens doors for a re-test of 1.2540 levels."
"However, the pair is unlikely to rally so long as it trades below 1.25 levels."
"Meanwhile, the pair may dip to 1.2439 levels if the prices struggle near the resistance located at 1.25 levels."
"The bullish divergence seen on the hourly chart would fail in case the pair falls back to 1.2439 levels today."