Technical Analysis – EURUSD breaks below 1.3400
Posted on July 25, 2014 at 1:37 pm GMTEURUSD has turned extremely bearish, extending losses to new 8-month lows on Friday to 1.3427 by early US session trading. Downside momentum increased after the pair broke below the key psychological level of 1.3500. Daily technical indicators are all bearish, warning of a test lower still towards the next important level at 1.3400. Tenkan-sen and kijun-sen lines are negatively aligned, adding to the bearish market structure. RSI stochastic and MACD are all bearish although approaching extreme levels, which could warn [..]