The FED
minutes for today have supported the Dollar and right now the probabilities of
seeing a rate hike in June have risen to 39% after being at 15% this last
Tuesday. The Dollar rallies versus its main counterparts, especially versus the
Euro and the Yen. That is why the EUR/USD drops from the 1.1300 zone to the
1.1200 zone. If the price touches the 1.1200 level, that level may act as
support. To the upside, the 1.1300 level may act as resistance. The 21 day EMA,
yellow line, has been holding the price down and breaks below the 200 day EMA,
blue line. The 55 day EMA, purple line, has not been able to break below the
200 day EMA, but if it does, that could be an indication that the pair may
continue lower.
It may find some support around 1.1200 level.
ReplyDeleteIt broke below 1.1200 although it's retracing at the moment.
ReplyDeleteStrong decline!
ReplyDeleteThe pair is still quite bearish.
ReplyDeleteWeak performance today.
ReplyDeleteStraight to the point! Congrats!
ReplyDeleteGood post, thank you.
ReplyDeleteThe pair is still bearish.
ReplyDeleteGreat analysis as usual.
ReplyDelete