Friday, April 6, 2018
Slight bearish trend on the EUR/USD
The
EUR/USD is keeping a slight bearish inclination as shown on the daily chart and
it has managed to break below the 1.2300 level and the 55 day EMA (purple
line). Exactly at the 1.2300 level we can find the 200 month EMA, therefore the
price of the EUR/USD has also broken that moving average to the downside. The
breakdown took the price of the EUR/USD close to the 1.2200 zone from where it
bounces to the upside and finds resistance around the 1.2300 level. Support has
become resistance for now at the 1.2300 zone. To the upside, the most important
resistances could be the 1.2400 level and the 1.2500 level. To the downside,
the most relevant support right now is the 1.2200 level, followed by the 1.2100
level and finally the 1.2000 level where we can also find the 200 day EMA (blue
line).
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ReplyDeleteIt's quite bullish for the moment.
ReplyDeleteI think it may reach 1.2400 soon.
ReplyDeleteThank you for the useful info.
ReplyDelete