EUR/USD, brake true the daily MA100 and back!
Euro is trying to recover after a 4 day loss in a row, but daily MA100 is on the way now at 1.1050 and it’s not easy for the bulls to return this teritory today. There is also M30/MA 100 at aprox 1.1060, H1/MA200 as well. That is the first resistance area today, second one is waiting at 1.1100/30, strong one at 1.1200/20. On the way down, first support is 1.1040/50, second one is yesterday’s low at 1.1015/25 and H4/MA100&200 at 1.1000/15 as well. If the pair brake that, stronger support is waiting at 1.0900/20. At this chart we can see a major support and resistance at 1.0400/1.1400, a 1000 pips range in the last 4 months. What is your view traders?
Edit: H4 chart
On this H4 chart you can see why the pair didn’t manage to brake 1.1050/65 level on the way up and where and why the buyers have stoped the fall for now. The pair is looking bearish, let’s see could the bulls pushed euro up again and how will they react on the lower levels if the pair came there. Here are the MA100 & 200, it could become interesting after US CPI data today, 12:30 h (GMT). Sure, bigger moves are possible letter today, FOMC is coming up at 18:00 h (GMT). Let’s see how this day would end up!?
I like your moto – trade what you see, not what you think. My view is that the EUR/USD will go up to 1.1150 Of course i could be wrong bcs. there is some resistance at 1.1070. This month have +250 pips on this pair. Overall +1750 pips this month on six pairs. What a luck. Wondering how will the month end. Good work and thanks for analysis, Mario!
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That’s great Boris, congratulation. Keep going and thanks!