Technical Analysis for the day in EUR USD

EUR/USD 1.2652
Open 1.2796 Close 1.2801
High 1.2875 Low 1.2632


Last week the EUR/USD resumed declining after deteriorating to overcome the 1.2875 resistance. On the weekly chart threat of further turn down remains valid, with targets towards the area of 1.2300, will the EUR remain under 1.3200? At the unchanged time on the daily chart the currency pair consolidated, and the growth of the downward trend could not be achieved, as EUR/USD met good quality demand in the region around 1.2730, and recognized convergence. Technically, we have sliding triangle, whose figure for the bearish situation is towards the key level of 1.2600. The market seems to have its hesitation and awaits more catalyst that is significant. The CCI pointer is in the oversold region and upwards on the 1 and 4 hour charts, supercilious increasing pressure towards taxing of the 1.2875 resistance. Going rear under 1.2600 will form sliding signals towards 1.2530.

TR levels: 1.2875, 1.2950 and 1.3055.
TS levels: 1.2600, 1.2515 and 1.2405.

Trading range: 1.2665 - 1.2600
Trend: Downward
Sell at 1.2652 Stop Loss 1.2682 Target Price 1.2612