EURUSD
Is trading in a range for the two months from August 01 to till date. On topside 1.20000 has acted as major barrier for the recent bullish run. Before reaching this level Euro has gained most of the loses which give up on starting of this year. Weakness of the USD helped the Euro to gain back towards 1.20000
The trading range is from 1.17000 to 1.20000 which is 300 pips. Since August its struggles to break the key psychological level and got rejection 07 times. On downside its got rejections too
On broad risk aversion yesterday the USD got some strength and gain back some pips and we expect the break down of the structure on downwards. As the coronavirus cases are surging again in Euro area and the investors eyeing on the Further Euro zone recovery plan
Both the Federal reserve of America and European central bank has expressed their concern about the appreciation of the currencies against one another
The price is currently trading below the 1.18000 level and 78.6% of minor timeframe
Within this 300 pips range we have a minor trend line too. Breaking of the trend line will give some idea about further movement of EURUSD
Opening short positions after some minor retracement from current level to the resistance zone of 1.18000 and the potential target would be around 1.16000 will give us a good risk reward ratio. And 1.16000 is a trend reversal zone
The price is felled below the 50,100,200 Exponential moving average. And ichimoku baseline is acting as support for the bear and the cloud is turned red
RSI is felled below the middle point which is 50 And MACD is in red zone
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Is trading in a range for the two months from August 01 to till date. On topside 1.20000 has acted as major barrier for the recent bullish run. Before reaching this level Euro has gained most of the loses which give up on starting of this year. Weakness of the USD helped the Euro to gain back towards 1.20000
The trading range is from 1.17000 to 1.20000 which is 300 pips. Since August its struggles to break the key psychological level and got rejection 07 times. On downside its got rejections too
On broad risk aversion yesterday the USD got some strength and gain back some pips and we expect the break down of the structure on downwards. As the coronavirus cases are surging again in Euro area and the investors eyeing on the Further Euro zone recovery plan
Both the Federal reserve of America and European central bank has expressed their concern about the appreciation of the currencies against one another
The price is currently trading below the 1.18000 level and 78.6% of minor timeframe
Within this 300 pips range we have a minor trend line too. Breaking of the trend line will give some idea about further movement of EURUSD
Opening short positions after some minor retracement from current level to the resistance zone of 1.18000 and the potential target would be around 1.16000 will give us a good risk reward ratio. And 1.16000 is a trend reversal zone
The price is felled below the 50,100,200 Exponential moving average. And ichimoku baseline is acting as support for the bear and the cloud is turned red
RSI is felled below the middle point which is 50 And MACD is in red zone
If you like our work please give us a thumbs up and do follow our profile so that you can get every new ideas and updates
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Price has reached the lower trend line will The EEURUSD make a bounce or will breakout and bleed
