Entering text into the input field will update the search result below

EUR/USD: Bouncing In Down-Trend - Technical Analysis | 20th Jan 2014

Jan. 20, 2014 4:44 AM ET
LigaForex profile picture
LigaForex's Blog
22 Followers
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Seeking Alpha Analyst Since 2010

Social Trading - fun easy mobile at Liga Forex - a Revolution in Online Investing

The EUR/USD pair is in an overall stronger down-trend although this morning's activity is bullish. It has now clearly broken down below the trend-line from the July lows and has fallen below the monthly pivot at 1.3550. The short-term trend is bearish and will probably continue, although price has now reached support from a major trend-line drawn from the July 2012 lows, which defines the medium term trend.

EURUSD Technical Analysis 20th January 2014

A break of this trend line would be a stronger sign the pair was going lower. In the short term it is supporting price action which has been bullish this morning, and could go higher, reaching 1.3560-80 temporarily perhaps, before rotating and moving back down. A move below the 1.3500 lows would probably signal a continuation lower to the next target at 1.3380.

Analysis by: Joaquin Montfort - LigaForex.com Market Analyst

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.