EUR/USD Below 200-Day Moving Average

June 2, 2013 in Chart Alert

One of the chart alert posted during last weekend had indicated the struggle of EUR/USD below the psychological 1.3000 level as well as 55-day EMA resistance. The currency pair has broken above both of those. You may please check this previous EUR/USD alert.

While the pair has broken both of these resistances, is seems to be finding resistance below a stronger 200-day moving average. Please refer the daily chart as follows where the red line is 55-day EMA and blue is 200-day moving average. We are also posting the weekly chart which indicates that the pair is not yet out of the head and shoulders pattern and another fall can not be ignored.

EUR/USD and 200-day moving average

EUR/USD daily chart - resistance below 200 day moving average

EUR/USD weekly chart – Head & Shoulders formation and trend line support

EUR/USD weekly chart - head and shoulders chart pattern

Please also check the weekly outlook of EUR/USD.

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