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Cable cracked psychological 1.50 support; bear-channel support at 1.49 eyed

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro cracks 1.0564, near-term base floor, signaling resumption of larger downtrend, which was interrupted by brief 1.0564/1.0636 consolidation. Overall structure remains bearish and supports further weakness towards immediate target at 1.0519, 13 Apr low and key support at 1.0461, Mar 2015 yearly low. Falling daily 10SMA, which maintains downtrend since mid-Oct, offers initial resistance at 1.0635, which is expected to cap upside attempts. Session high and hourly Ichimoku cloud base

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