Daily Technical Strategy On Currencies & Commodities

[FXTechstrategy]

EURUSD: Bearish, Declines Further

 

EURUSD: With the pair extending its downside pressure on Tuesday, further weakness is likely in the days ahead. Resistance comes in at 1.0900 level with a cut through here opening the door for more upside towards the 1.0950 level. Further up, resistance lies at the 1.1000 level where a break will expose the 1.1050 level. Conversely, support lies at the 1.0800 level where a violation will aim at the 1.0750 level. A break of here will aim at the 1.0700 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD faces further bear threats.

 

http://www.fxtechstrategy.com/wp-content/uploads/2017/05/EURUSDDaily-1.png

[AnU]

yes really interesting.