Technical Updates

EUR/USD Can Broke Below 1.2872?

EUR/USD Can Broke Below 1.2872?

The Euro failed break 2012.09.17 high on 2012.10.05 now bearish sideway. Yesterday, ECB president Draghi speaks brought the market below 1.2950 level.

Indicators :

– RSI Period 14 with 30 level as oversold and 70 level as overbought.

– The 4X1, 2X1, 1X1, 1X2 and 1X4 Gann Angels.

– Gann’s Price&Timing Study.

– Simple Moving Average 50 Period (Blue), 100 Period (Red) and 200 Period (Green) on the chart.

The pivot is 1.2872 if continue to decline, we saw the price projection target at 1.2736 level. 4H timeframe 200SMA is 1.2818 and the RSI indicate bearish mode ready.

Daily chart we saw the first support around 1.2729 by price&timing.

The alternative scenario, if break above 1.2872 we will looking for the bullish direction.

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