10:19, 06 février
EURUSD Daily Analysis
After forming a bearish harami candlestick pattern on Friday, the EURUSD pair extended its downtrend in the last session to finish at 1.2367, following a low at 1.2363. Although the daily MACD is heading south, the RSI and stochastic oscillators are trading with an upside tone, hinting at likely bullish momentum in the coming session. Moreover, a possible signal line crossover from below by the 2H MACD, along with the 8H RSI and stochastic pointing north, further endorses the above view. Important resistance is located at the 1.2425 level, followed by the 1.2460 and psychological 1.2500 levels. A break and stability above the latter might lead to positivity in the pair. On the contrary, key support is aligned at the 1.2350 level, followed by the 1.2320 and 1.2282/80 levels. A breach below the latter might lead to further bearish pressure on the pair.