FX.co ★ Technical Analysis of EUR/USD for August 19, 2014

EUR/USD

The pair has been making lower highs for 7 weeks, and has been rejected at 20DSma 4 days in a row. In today's session, the pair opened with a minor bearish note opened higher at 1.3363, resulted that trade has been long until it breaches the 1.3363 levels. The sell on an upward move is rewarding good money with sl 20DSma on a closing basis. On the down side, the pair has a strong support at 1.3350 and 1.3330 below this, 1.33/1.3295 will act as the weekly key support levels. A daily close below 1.3295 will make the push the pair towards 1.3250, 1.3210 in a week's time.

Weekly key support level 1.32954

Weekly key resistance level 1.34 (20DSma).

Buy only above 1.34, until selling on an upward move.

Intraday cmp 1.3360

The pair is trading below the 21hrsma, 12ema, and 34hr sma which generates the bearish sign. The today's opening higher made the pair more bearish towards the support trend line in the h4 chart. In an intraday basis, until the pair breaches the 1.3365, sellers will gain profit.

Support 1.3350 1.3340 1.3330

Resistance 1.3365 1.3375 1.34-1.3410