The EUR/USD pair is acting very shaky today, having
been around 1.1640 and
afterwards dropped to 1.1612. But following FOMC the pair bounced to 1.1730, marking
highest level for the past two and a half years.
On the four-hour time frame the price has crossed to above the 20-day SMA, while the 100-day and 200-day SMAs are keeping upward slopes.
On the four-hour time frame the price has crossed to above the 20-day SMA, while the 100-day and 200-day SMAs are keeping upward slopes.
Stochastic retreated from the extreme oversold area and is showing strong
bullish momentum. RSI is also heading north and is nearing overbought
territory.
Indicators are confirming the short term bullish trend but a slight correction
is not excluded.
First support is seen at 1.1690 and next at 1.1650. Looking to the upside,
resistance levels are 1.1745 and higher at 1.1790.
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