“Momentum seems a bit exhausted in the hourly, but price action seems to be well supported by 20 SMA,” said Valeria Bednarik, collaborator at FXstreet.com . Bullish strength seems to be beginning to recede in bigger time frames.
Tuesday, May 26, 2009
EUR/USD CURRENT PRICE: 1.3994
EUR/USD Current price: 1.3994. Pair regained the upside after Wall Street positive boost, and pair returned to consolidation mode around the 1.4000 zone. Small descendant trend line at 1.4000 seems to be the first resistance to consider, as the pair rebounded on it a couple of times.
“Momentum seems a bit exhausted in the hourly, but price action seems to be well supported by 20 SMA,” said Valeria Bednarik, collaborator at FXstreet.com . Bullish strength seems to be beginning to recede in bigger time frames.
“Momentum seems a bit exhausted in the hourly, but price action seems to be well supported by 20 SMA,” said Valeria Bednarik, collaborator at FXstreet.com . Bullish strength seems to be beginning to recede in bigger time frames.
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