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10 Sep 2013
EUR/USD wanes to session lows, overbought?
FXstreet.com (Lisbon) - The EUR/USD foreign exchange rate edged lower to fresh lows Tuesday, as the recent rally has since stalled during European trading, leading to more questions than answers.
EUR/USD technical levels
At this juncture, the EUR/USD has moved to the 1.3238 level, not a particularly dreadful position down -0.11% thus far, but operating at its lowest daily levels. Technically speaking, the EUR/USD remains fortified above supports at 1.3223, ahead of 1.3187, and 1.3157, suggests the Danske Research Team.
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/USD moved back to the upside and stabilized above key resistance level of the sideways range and above Linear Regression Indicator 34. Meanwhile, the pair is still stable below 23.6% correction at 1.3290 levels and below Linear Regression Indicator 55 and Stochastic is showing overbought signals. Therefore, we prefer to remain intraday neutral in this report waiting for confirmation signals depending on how the pair would react at 1.3290 levels.”
EUR/USD technical levels
At this juncture, the EUR/USD has moved to the 1.3238 level, not a particularly dreadful position down -0.11% thus far, but operating at its lowest daily levels. Technically speaking, the EUR/USD remains fortified above supports at 1.3223, ahead of 1.3187, and 1.3157, suggests the Danske Research Team.
EUR/USD strategic bias
According to the Technical Analyst Team at ICN.com, “The EUR/USD moved back to the upside and stabilized above key resistance level of the sideways range and above Linear Regression Indicator 34. Meanwhile, the pair is still stable below 23.6% correction at 1.3290 levels and below Linear Regression Indicator 55 and Stochastic is showing overbought signals. Therefore, we prefer to remain intraday neutral in this report waiting for confirmation signals depending on how the pair would react at 1.3290 levels.”