The EUR/USD
has been consolidating during this week just below the 1.0700 level as shown on
the daily chart. The MACD indicator is showing us that the bearish trend is
still in place, but it is losing its strength, according to the bars on the
histogram. From the current levels, the EUR/USD may head in any direction. If
the pair breaks below the 1.0600 level, then its next support area could be the
1.0500 zone, which has been a congestion area in the past. Above the 1.0700
level, its next resistance could be the 1.0800 zone, where we can find the 200
day EMA (blue line) and from where the price may bounce to the downside. Above
the 1.0800 level, the most important resistance zone is at the 1.0900 level
from where the pair made a sharp move to the downside.
Is waiting for the NFP tomorrow.
ReplyDeleteLet's see what effect the fundamentals will have on it.
ReplyDeleteIt's bearish for the moment.
ReplyDeleteExcellent analysis, thank you!
ReplyDeleteVery helpful analysis, thank you for sharing!
ReplyDeleteThe recent geopolitical shocks are strengthening the dollar!
ReplyDeleteVery accurate analysis!
ReplyDelete