EUR/USD recovers higher though bearishness weighs

FXstreet.com (New York) – The EUR/USD foreign exchange rate has swayed violently Wednesday, remaining in negative territory for the entirety of US trading.

EUR/USD strategic bias

According to the Technical Analyst Team at ICN.com, “The EUR/USD failed to stabilize above 1.3400 keeping the possibility of an intraday downside move. By examining Linear Regression Indicators, we find that they are supporting our expectations due to trading above the current level; Stochastic is also showing a negative bias and has achieved a bearish crossover in overbought areas. RSI is trading below line 50 in a downside move. Therefore, we expect to see further …read more