Technical Analysis – EURUSD finds support at 1.2500
Posted on October 8, 2014 at 7:09 am GMTEURUSD has stalled its decline and has found strong support at 1.2500. Resistance stands at 1.2713. The pair has been consolidating between these two levels since the beginning of October. The underlying trend is bearish, as the market is below the daily Ichimoku cloud and the tenkan-sen and kijun-sen lines are negatively aligned. RSI is in bearish territory below 50 and has moved out of oversold conditions, suggesting the sell-off has been overdone for now and some consolidation is expected [..]