The EUR/USD
on the daily chart is really in a wide range between the 1.2200 zone and the
1.2500 zone. This Monday’s daily candle has closed in the shape of a hammer,
which is a bullish reversal pattern; therefore, the EUR/USD may try to head
higher. To the upside, the pair may find some resistance on the 1.2400 level,
but a better resistance could be the 1.2500 level along with the 1.2554 high.
As we said, the pair is oscillating around the 1.2300 level where we can find
the 200 month EMA without a clear trend. For now, the 55 day EMA (purple line)
could act as a support along with the 1.2200 level. Below the 1.2200 zone, the
next support levels could be any of the round number levels all the way down to
the 1.1900 zone where we can find the 200 day EMA (blue line).
Seems like 1.2300 can be good inflection point.
ReplyDeleteThe move to the upside continues.
ReplyDeleteThe pair is pushing higher.
ReplyDeleteImportant levels to keep in mind!
ReplyDeleteVery helpful analysis, thank you for sharing!
ReplyDeleteExcellent information to keep in mind.
ReplyDeleteVery good analysis, well explained.
ReplyDelete