2013.11.08 | EURUSD Market Analysis
EURUSD Trends & Fibonacci Retracement Levels
The EURUSD currency pair has been falling in forex market trading over the past couple days with the pair remaining under the major 1.3500 level. Trends data shows the pair is currently in a short-term downtrend as prices are trading under our favored short-term moving average. Over the longer term trend, as seen on the chart by the 90 day Linear Regression Channels, the pair continues to be in an uptrend although the pair trades at the edge of our channels (an extreme deviation or oversold level) and further downward direction from here can indicate a possible trend change.
EURUSD Trends Data: Linear Regression Indicator
10-day current trend is BEARISH
30-day current trend is BULLISH
60-day current trend is BULLISH
90-day current trend is BULLISH
180-day current trend is BULLISH
Fibonacci Retracement Target Levels
— 0.000 – 0.88893
— 0.236 – 0.90925
— 0.382 – 0.92182
— 0.500 – 0.93199
— 0.618 – 0.94215
— 0.764 – 0.95472
— 1.000 – 0.97504
By CountingPips.com – Forex Trading Apps & Currency Trade News
Disclaimer: Foreign Currency trading and trading on margin carries a high level of risk and volatility and can result in loss of part or all of your investment. All information and opinions contained do not constitute investment advice and accuracy of prices, charts, calculations cannot be guaranteed.
