Technical analysis of the currency pair EUR/USD on 03/01/2017. The daily chart
Currency pair EUR / USD continues to move sideways during the whole last week.
It should be reminded that not so long time ago the price has broken through the major support level 1.0520 and the price successfully fixed below it. Then it was back testing of this support but in time of testing there was a sharp surge in activity therefore the price has risen almost to 1.0670 but then during the same day again fell below the 1.0520 support.
Considering the overall picture of the graph EUR / USD where we can emphasize a clear downward trend and the presence of such sell signals as: break through the price channel boundaries, back testing of it we can expect that further decline in this currency pair will continue.
Schedule Stochastic indicator turned inside the neutral zone and demonstrates the downward movement.
The following points to reduce the EUR will be the levels 1.0200 and 1.0180.
We recommend opening the deal to sell with the average lots and placing orders S / L above 1.0650.