There are signs the short-term trend is reversing. On Friday the move down broke below the 1.3205 lows confirming a reversal in peak and trough with a lower high and a lower low. Now the pair has found support at the 50-day MA at 1.3180 where is has paused. A bounce is possible with an target at the the major trend-line and monthly pivot situated at 1.3285, however, the up-move today remains subdued. I see the strong, new down-trend resuming eventually, although the 200-day MA not far below at 1.3135 impedes progress lower, however, and even if this is surpassed more support lies at 1.3109. On longer-term time frames the trend is sideways with prices in a range, with highs at 1.3415. This supports a bearish short-term outlook in which prices have backed away from the highs and move back down to the 1.2760 lows again. 
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EUR/USD: support from 50-day
Published 09/02/2013, 06:24 AM
Updated 07/07/2019, 08:10 AM
EUR/USD: support from 50-day
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