Tuesday, February 6, 2018
Pullback to a key level on the EUR/USD
The
EUR/USD has been very volatile lately, but it has not taken a clear a
direction. The pair has been consolidating between the 1.2300 level and the
1.2500 level. In order for the EUR/USD to take a clear direction, it must break
one of those levels either to the upside or to the downside. On the most recent
pullback, the price came to the 1.2300 level where we can find the 200 month
EMA and from there it bounced to the upside as shown on the daily chart. For
the pair to keep its bullish trend, which is still in place as indicated by the
angle of inclination that the 55 day EMA is showing, it must break above the
1.2500 level. Below the 1.2300 level, its next support levels could be the
1.2200 level along with the 55 day EMA.
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Seems like it has room for further decline.
ReplyDeleteIt's very bearish for now.
ReplyDeleteThe pair is aiming 1.22.
ReplyDeleteIt broke out below 1.2300.
ReplyDeleteImportant levels to keep in mind!
ReplyDeleteGreat take on markets!
ReplyDeleteExcellent information to keep in mind.
ReplyDelete