Trading news

Daily Analysis: EURUSD for March 7

EURUSD Cup with Handle on intraday chart

The EURUSD is focused on ECB meeting this week on Thursday where investors will re-assess ECB further policy but until then we need to analyze the possible intraday movement of the most traded Forex pair. After good NFP but bad wages data on Friday the EURUSD spiked to 1.1040 region after the rejection from 1.0920.
Today the pair has initially been sold but the overall trend is bullish. H1 shows a cup with handle pattern where handle is formed in upper half of the cup. POC for positional trades is 1.0925-50 but only above 1.0955 the pair can gain upside momentum towards 1.1040. Point A is the right cup lip and it serves as the breakout point whereas point B is the handle low confluence. Only above 1.1040 the price will open the door for 1.1150.
However the pattern and the setup will become invalid if the price breaks below 1.0895.

Monday, 07 Mar, 2016 / 2:52

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.admiralmarkets.com/analytics/technical-analysis/eurusd-cup-with-handle-on-intraday-chart

Trading news

 

2020 Olympics & The Japanese Economy

With the 2020 Olympics kicking off after a year-long delay, just how much of a [...]

Posted on Friday, 23 Jul, 2021 / 1:30 under

Fed, Inflation, And The Housing Bubble

Yesterday, the US’ second-largest homebuilder, D.R. Horton, announced [...]

Posted on Friday, 23 Jul, 2021 / 1:28 under

Stormy week ends with US stocks at record highs

  Nasdaq 100 closes at new record as investors warm up to tech [...]

Posted on Friday, 23 Jul, 2021 / 9:25 under