The Euro is Falling Back Against The US Dollar.

The single European currency ended its weekly trading on a bearish slope, as the euro continued the descending path that started from the 1.1890 level to record its lowest level at 1.1754.

On the technical side today, and with a careful look at the 4-hour chart, we find the simple moving averages continuing their negative pressure on the price from above. We also find that the RSI is still stable below the 50 mid-line.

On the other hand, we find stochastic trying to provide temporary positive signals that might lead the price on short intervals to retest 1.1810/1.1820 before resuming the decline again.

Note: the temporary bullish bias does not contradict the general bearish trend, which its awaited official targets are located around 1.1700, and it may extend later to visit 1.1660.

S1: 1.1730	R1: 1.1830
S2: 1.1685	R2: 1.1890
S3: 1.1620	R3: 1.1930