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EUR/USD Vulnerable To Further Declines Amid Void Of Reversal Signals

EUR/USD Vulnerable To Further Declines Amid Void Of Reversal Signals

David de Ferranti, Currency Analyst

Talking Points

  • EUR/USD Technical Strategy: Pending Short
  • Remains Exposed Amid Void Of Reversal Signals
  • H4 Chart Shows Indecision Near Intraday Support

EUR/USDmay be exposed to further declines as key reversal candlestick signals appear lacking. The break below the recent lows near 1.2430 sets the scene for a descent on the late August ’12 lows near 1.2250. A push back over the 1.2500 hurdle would be required to warn of a base for the pair.

EUR/USD: Remains Exposed Amid Void Of Bullish Reversal Signals

EUR/USD Vulnerable To Further Declines Amid Void Of Reversal Signals

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

The four hour chart suggests some hesitation from the bears to lead the Euro, as indicated by a Doji. Yet as noted on the daily, bullish signals are thus far missing. This in turn makes a corrective bounce questionable.

EUR/USD: Bullish Reversal Signals Lacking Near Intraday Support

EUR/USD Vulnerable To Further Declines Amid Void Of Reversal Signals

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

By David de Ferranti, Currency Analyst, DailyFX

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