By ForexTime
Euro bears seem to be making a return after dragging prices from a multi-month high at 1.1016 with the recent breakdown below the 1.0830 level supporting the bearish case.
Zooming out on the weekly charts, the negative momentum could pick up after bulls failed to conquer the 1.0960 level which has acted as significant resistance in the past.
Free Reports:
On the monthly charts, it’s still the same old story for the EURUSD with major support at 1.0500 and resistance at 1.1060.
The real action is back on the daily charts, especially after the daily close below 1.0830. Although prices are no longer trading within the bullish channel, some support can be seen around the 100-day SMA.
A potential breakout opportunity could be on the horizon with the right fundamental spark. Given how this is a data-heavy week for both Europe and the United States, this could translate to increased volatility on the EURUSD – especially on Friday when the NFP is released.
ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com
By JustMarkets At the end of Friday, the Dow Jones Index (US30) was up 1.18%…
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
By InvestMacro The latest update for the weekly Commitment of Traders (COT) report was released…
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
This website uses cookies.