Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Daily Market Analysis By FXOpen
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Resolve, post: 193178, member: 29339"] [B]EUR/USD Turns Red, USD/JPY Is Correcting Gains[/B] [IMG]https://i.postimg.cc/zGHzjZFv/Euro-EUR.jpg[/IMG] [I]EUR/USD started a fresh decline and traded below the key 1.1880 support zone. USD/JPY is correcting gains and it is now trading below the 108.80 support.[/I] [B]Important Takeaways for EUR/USD and USD/JPY[/B] [LIST] [*] [*]The Euro failed to continue higher above 1.1950 and started a fresh decline. [*]There is a key bearish trend line forming with resistance near 1.1915 on the hourly chart of EUR/USD. [*]USD/JPY started a downside correction from well above the 109.00 level. [*]There is a major bearish trend line forming with resistance near 108.65 on the hourly chart. [/LIST] [B]EUR/USD Technical Analysis[/B] In the past few days, the Euro struggled to gain bullish momentum above 1.1950 against the US Dollar. The EUR/USD pair formed a swing high near 1.1946 on FXOpen and recently started a fresh decline. There was a break below a few important supports near the 1.1890 and 1.1880 levels. The pair even settled below the 1.1880 support zone and the 50 hourly simple moving average. A low is formed near 1.1836 and the pair is currently consolidating losses. [IMG]https://i.postimg.cc/W4R2YW5n/eurusd-chart-3.png[/IMG] An initial resistance is near the 1.1860 level. It is close to the 23.6% Fib retracement level of the recent decline from the 1.1946 swing high to 1.1836 low. The first major resistance is now forming near the 1.1890 and 1.1880 levels. The 50% Fib retracement level of the recent decline from the 1.1946 swing high to 1.1836 low is also near 1.1891. Moreover, there is a key bearish trend line forming with resistance near 1.1915 on the hourly chart of EUR/USD. Therefore, the pair must clear 1.1880 and 1.1920 to start a strong increase in the coming sessions. Conversely, the pair could continue to move down below the 1.1836 low. The first major support is near the 1.1820 level. If there is a downside break below the 1.1820 support, the pair could dive towards the 1.1750 support in the near term. Any more losses might call for a test of the 1.1715 support level. [B]Read Full on FXOpen Company Blog...[/B] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…