Forex EUR-USD Technical Analysis

As all primary indicators such as Moving Average Convergence/Divergence (MACD) and Stochastic is still heading downwards this indicate that there is no immediate sign of resistance for the bear. Until at least monthly stochastic (5-5-3 setting) is heading upwards then we can expect the first resistance to take place.

Global economic uncertainties that is still going on at this time can add up the ingredient to extreme speculation which may push the market beyond its normal movement which pierce through the Bollinger bottom band. This can happen anytime when greed and fear meet together.

We will follow up on this situation when this happen in the future and for now just expect going down all along first!

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