Trading news

EUR/USD consolidating after announcements!

EUR/USD holders last two weeks either burnt or they are still counting their profits. Announcements of previous weeks from ECB and FED accompanied with hawkish statements from president Draghi and on the other hand Dovish statements from members of the FED lead the pair on a bullish ride of 520 pips from 1.0821 to 1.1341!


Price last few days is consolidating, while Bulls and Bears are in the middle of a fight.
Price is now testing the 1.12 support line which is also a psychological support. A possible break below the 1.12 will most probably give the bears the power they need to test the 200 MA, which is a very crucial level for future price action. If price manage to penetrate and close below the 200 MA then we expect price to retrace to lower levels and why not to test the 1.1058 support level
On the other hand if 1.12 support level or 200MA which also acting as a very important support level manage to hold the price, we might see price testing again the 1.1335 resistance level.

EURUSD chart
For better display, please follow the source link.

Tuesday, 22 Mar, 2016 / 9:17

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

Source : https://eqtrades.com/eurusd-consolidating-after-announcements/

Trading news

 

USD the Main G10 Winner, New UK Prime Minister to be Announced

The dollar gained against all the other G10 currencies, perhaps as investors [...]

Posted on Tuesday, 23 Jul, 2019 / 7:57 under

USD Rises To A One-Week High

The US dollar was seen nearing a one-week high earlier today. The gains in the [...]

Posted on Tuesday, 23 Jul, 2019 / 7:56 under

Forex: EURUSD Could Breakout on the ECB Rate Meeting This Thursday - ATFX

Forex: EURUSD Could Breakout on the ECB Rate Meeting This Thursday - ATFX For [...]

Posted on Tuesday, 23 Jul, 2019 / 3:17 under