EURUSD tests key resistance trendline; bias neutral-to-bearish

EURUSD tests key resistance trendline; bias neutral-to-bearish

From xm.com

EURUSD opened the week with a muted tone, consolidating its rebound off 5½-year lows marginally below the tough resistance trendline drawn from the 1.1494 high and its shorter-term simple moving averages (SMAs) around 1.0580. The upside reversal in the RSI and the MACD’s slow improvement above its red signal line is sending some positive vibes about short-term trading, though as long as the indicators hover in the bearish area, downside risks remain intact. The stochastics are setting a bearish intersection following their latest upleg, mirroring fading buying appetite as well. Slightly above the trendline, the ... (full story)

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