Technical Analysis – EURUSD resumes downside bias
Posted on December 18, 2014 at 8:16 am GMTEURUSD made a brief correction after bouncing from 1.2246 to 1.2600 but has fallen for the second day and is fast approaching 1.2246 again. The downside bias has gained momentum after breaking back below the 78.6% Fibonacci retracement level at 1.2462 – of the upleg from 1.2040 to 1.3992. RSI has fallen back below, also highlighting the downside bias. The market remains below the Ichimoku cloud. A break back below 1.2246 will see a resumption of the bearish trend which [..]