EURUSD pauses southward run near 1.0950

EURUSD pauses southward run near 1.0950

From xm.com

EURUSD plummeted more than 2% after the pullback from the double top around 1.1200, recording six straight red days. The price also tumbled beneath the short-term uptrend line and the 1.1000 round number, confirming the bearish correction in the near term. The RSI indicator is falling beneath the neutral threshold of 50; however, the stochastic is suggesting the end of the negative retracement as it is posting a bullish cross within its %K and %D lines in the oversold territory. If the selling interest continues, then the market may re-challenge the strong flat 200-day simple moving average (SMA) at 1.0870 before ... (full story)

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