Technical Analysis

EURUSD grinds to the 100 hour MA

Sellers lean on the first test

The EURUSD has grinded up to the 100 hour MA at the 1.1495 level. The high reached 1.14938 – just short of that MA level. Sellers (profit takers/new sellers?) leaned against the level. Risk could be defined and limited against the level.   Move above and there should be more buying. 

A topside trend line at 1.1509 if broken would also increase the bullish bias technically.  

ForexLive

Articles You May Like

Will USD-CNY rise above 7? – Commerzbank
EUR/JPY Technical Analysis: The cross met support in the 128.30 region. Remains vulnerable
Wednesday brings the Fed’s FOMC meeting minutes – preview
How to Trade Forex for Beginners (8-Step Dummies Guide)
China stock turnaround gives a small lift to risk trades

Leave a Reply

Your email address will not be published. Required fields are marked *