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EUR/USD enters Asia bearish - FXStreet

FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet noted the EUR/USD ended the day in bearish territory.

Key Quotes:

EUR/USD ended the day below 1.2440 and trading near a daily low set at 1.2418 and with the short term picture presenting a bearish bias, as per indicators heading south below their midlines, and price extending below moving averages”.

“In the 4 hours chart indicators retraced from their midlines after correcting oversold readings reached late last week, whilst price extends below a bearish 20 SMA”.

“At this point, further slides below the 1.2400 figure are required to confirm a stronger slide, thus a recovery above 1.2440 will leave the pair mostly range bound, contained by 1.2520 price zone”.

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Session Recap: Just a correction; EUR/USD back to 1.2420

The so-called rebound of the EUR/USD was really short lived as the pair got a rejection at 1.2500 where the bulls took control again and sent the pair to 1.2420. The same story against the British pound and the yen as dollar bulls regained positions.
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