The 200 day
exponential moving average continues acting as a good support zone for the
EUR/USD, around the 1.1064 level. The more times the price visits that zone,
the higher the probabilities of seeing a breakdown. If the price breaks to the
downside, then the 1.1000 could act as support or the 1.0900 level. To the
upside, if the price bounces up, then the 1.1200 could act as resistance.
Fundamentally the Euro stays weak due to the disappointing data from the
Eurozone, but the Dollar has not gained enough strength and that is why the
pair is having a difficult time trying to break below that moving average.
Thanks for such an informative analysis.
ReplyDeleteThe move to the downside continues.
ReplyDeleteFurther downside pressure extend, 1.1000 support level is still holding.
ReplyDeleteExcellent analysis, as usual!
ReplyDeleteHelpful article!
ReplyDeleteVery useful analysis.
ReplyDeleteGreat analysis! Congratulations.
ReplyDelete