The
Euro versus the Dollar has been in a very good bullish trend, which has taken
it to the 1.0800 zone where it coincides with the 200 day EMA (blue line), but
it is currently trying to stall its trend at that level. On the daily chart we
can see that the pair has been having difficulties in trying to break above the
1.0800 level, but at the same time it has neither been able to break above the
200 day EMA. The last time that the EUR/USD broke above the 200 day EMA was on
November 9th of last year and even then the breakout was temporary,
because once the pair got to the 1.1300 level, it bounced from that level to
the downside. On the current visit that the pair is making to the 200 day EMA,
it may try to bounce to the downside and maybe reach the low at the 1.0493 level.
To the upside, in case of a bullish breakout, any of the round number levels
from the 1.0900 to the 1.1300 may act as resistance.
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ReplyDeleteVery good article, thank you for sharing!
ReplyDeleteGood assessment, I'll keep those levels in mind.
ReplyDeleteInteresting analysis.
ReplyDeleteGreat analysis as usual.
ReplyDeleteExcellent analysis!
ReplyDeleteA big gap up.
ReplyDeleteThanks for such an informative analysis.
ReplyDelete