The EUR/USD
has a good rally that took the pair to the 200 day EMA round the 1.0770 level
and which gave a trend reversal signal on the MACD over the daily chart. The
rally was caused in part to the weak fundamental data out of the US and the
rally on the Pound which at the same time helped to push the Single Currency
higher. From the 200 day EMA the pair bounce to the downside and comes close to
the 1.0700 level. In case the EUR/USD breaks below the 1.0700 level, it will
have the road clear to drop to the 1.0600 level, a zone that has acted as a
good support in the past. Above the 200 day EMA, its closest resistance is the
1.0800 level, but a break out above the 1.0800 level could take the price to
the high at the 1.0900 level.
It could have found some resistance.
ReplyDeleteIt bounced off from 1.0780.
ReplyDeleteI think it will continue falling for the moment.
ReplyDeleteThe pair is vulnerable ahead elentioncs in France.
ReplyDeleteThanks for such an informative article.
ReplyDeleteThat's good to know, thanks.
ReplyDeleteThanks for such an informative analysis.
ReplyDeleteA huge gap up to 1.09 level.
ReplyDelete