EURUSD (1.2320): The euro currency was seen turning bullish yesterday with price action seen extending the gains in the early Asian trading session today. The euro’s gains came broadly from the USD’s weakness. EURUSD managed to edge slightly higher trading near the 1.2300 handle. However, the current higher high posted is seen with the Stochastics oscillator forming a lower high. The divergence could potentially indicate a downside move in the euro. Price action is trading near the major resistance level of 1.2300 region. Unless there is a strong close above this level we expect to see the potential for a correction in the common currency.
: The euro currency was seen turning bullish yesterday with price action seen extending the gains in the early Asian trading session today. The euro's gains came broadly from the USD's weakness. EURUSD managed to edge slightly higher trading near the 1.2300 handle. However, the current higher high posted is seen with the Stochastics oscillator forming a lower high. The divergence could potentially indicate a downside move in the euro. Price action is trading near the major resistance level of 1.2300 region. Unless there is a strong close above this level we expect to see the potential for a correction in the common currency.){kind=link}