From Goldman Sachs’ weekly “The Charts That Matter”, a look at EUR/USD:
- As daily oscillators moved towards their recent range base last week concerns of material ST stabilisation/bounce increased. With hindsight the market however appears to be trading far more like a classic (bearish in this case) trend as oscillators quickly attempt to turn lower again and the market continues to a new trend base
- From here before putting too much focus on daily oscillators real +ve divergence (i.e. lower-lows on spot vs higher-crosses/-lows on the oscillator) likely needs to develop.
- In terms of levels; next support the interim low from Nov. ‘13 at 1.3295 and resistance the interim low from 3 rd Feb. this year at 1.3476
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And some more:
