EURUSD ANALYSIS
The pair has limited bullish potential in the long term, as it keeps trading below the 38.2% retracement of its 1.1908/1.1523 decline at 1.1670, and around the 23.6% retracement at 1.1615.
The weekly chart shows the exchange rate has settled above its 100 and 200 SMAs, with the shorter crossing above the longer one. However, the 20 SMA keeps heading firmly south above the current level and converging with the 61.8% retracement of the mentioned slide at 1.1760. Meanwhile, technical indicators keep lacking directional strength within negative levels, reflecting the absence of buying interest.
#EUR/USD# #mytradingstory# #OPINIONLEADER# #BeginnerTalk# #BearishEUR/USD# #COPYTRADE# #traderoftheweek# #nonfarmpayrolls# #marketoutlook2021# #USeconomy# #NewTraders# #Todayanalysis# #insightsboard#
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.