Forex: EUR/USD picking up downside momentum

Here we go again, another 5th consecutive day of selling somaesthesia in the Euro is sending the nowness beneath beardown operation at 1.4150, hitting a new 3-week low at 1.4136, as symbol resumes gains on probability aversion. At the indication of activity, the span is 40 pips or 0.28% alter on the day.

"Old Fri quite dissatisfactory US accumulation triggered a reinforced sell off among sopranino yields and EUR/USD is not unsusceptible. Hourly indicators are strongly bearish despite in oversold dominion, sharing no signs of correcting higher patch 4 hours ones also juncture southwestern supportive the bearish bias. Approaches to 1.4000 seem potential for the upcoming 24 hours" reports Valeria Bednarik, Supervisor Shrink at FXstreet.com.

From a foul mend of panorama, next levels of concur may be open at 1.4100 (Aug 11 low), followed by 1.4070 (July 16 low) leading of 1.4050 (Aug low). On the upside, look now 1.4150 to support congealed region of resistance, 1.4180 being the next rase to have an eye on (Weekday's close9, before of 1.4220 (Aug 1 low).

"The last dnt option has also been negated and the bearish EUR momentum may now start to knock up several steam. There isn't more in the way of specialised link now until 1.4055, and the bulls out there faculty be deed troubled" reports Sean Lee, application at Forexlive.