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22 Jan 2015
EUR/USD collapses over 2% to 1.1350
FXStreet (San Francisco) - The Euro is extending its decline against the US Dollar and following a 300 pips decline after the ECB QE launching, the EUR/USD is now trading at lows since September 2003 at 1.1350.
Currently, EUR/USD is trading at 1.1355, down 2.02% on the day, having posted a daily high at 1.1652 and low at 1.1350. EUR/USD spot is in extremely oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
EUR/USD sentiment
Acording to FXStreet chief analyst Valeria Bednarik, "the ECB move has somehow reaffirmed the dominant bearish trend, and despite USD longs may be overcrowded, the pair is now set to reach the key psychological figure of 1.10 in the upcoming weeks."
Below the 1.1350, next supports are at 1.1330 and 1.1290. To the upside, resistances are at 1.1400, 1.1420 and 1.1460.
Currently, EUR/USD is trading at 1.1355, down 2.02% on the day, having posted a daily high at 1.1652 and low at 1.1350. EUR/USD spot is in extremely oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
EUR/USD sentiment
Acording to FXStreet chief analyst Valeria Bednarik, "the ECB move has somehow reaffirmed the dominant bearish trend, and despite USD longs may be overcrowded, the pair is now set to reach the key psychological figure of 1.10 in the upcoming weeks."
Below the 1.1350, next supports are at 1.1330 and 1.1290. To the upside, resistances are at 1.1400, 1.1420 and 1.1460.