EUR/USD technical outlook
EUR/USD ended Tuesday close to where it started, seeing a shock drop near 1.0900 after US CPI figures printed, but the pair recovered into the day’s midrange near 1.0930. The EUR/USD set a fresh weekly high at 1.0980 on Monday, and the pair continues to see near-term technical support from a shortrun rising trendline.
A bullish recovery from the last major swing low into the 1.070 handle in mid-February sees the pair running out of gas north of the 200-day Simple Moving Average (SMA) at 1.0836. There is a lot of chart ground to cover before bulls can reclaim the last major high above 1.1100 set back in late December
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.