FOREX Data and EUR/USD Trend For Today: 4th Feb

EUR/USD Trend

Technical FOREX Data: 

• Senior linear regression channel: direction-up. 
• Low channel linear regression: direction-down. 
• Moving Average (20; smoothed)- down. CCI: -126.7385

EUR/USD Trend:

The euro exchange rate on the currency market on February 3 is continuing to decline, which is signaled by the indicator Heiken Ashi bars coloring blue. Senior channel pointing up, indicating that the upward direction of the global trend. Low channel turned down, which means the downward direction of motion in the less long term. At the moment the price is below the moving average and below the Murray "2/8". Therefore the aim of the downward movement is now level Murray "1/8"- 1.3489, which has already been achieved. If price overcomes the first target, the new target will be the level of Murray "0/8"- 1.3428. The moving average is directed downward, and the price is in turn below it, so now more relevant downward movement. Heiken Ashi colored bars in the last blue color, which tells us about the local downward motion, so shorts can be seen to the top of the indicator that will signal to coil correction. Long positions can be re-considered only after fixing prices above the moving average. The CCI indicator is about the level of -100, which indicates the presence of a weak currency pair oversold, last strong oversold is not fulfilled, so still expected correction.

The next support levels are at 1.3489-1.3428-1.3367 and nearest resistance levels are 1.3550-1.3611-1.3672