Euro-dollar cautiously positive: $1.10 remains key
EURUSD seems quite ambiguous over the longer term, which is essentially a ‘normal’ situation for a major forex pair. The lower high in early March probably suggests a sideways trend rather than an upcoming downtrend: the slow stochastic is close to neutral and the price hasn’t been able to break below the 100% monthly Fibonacci retracement area around $1.07.
$1.10 seems like a significant resistance which could resist testing in the runup to American final GDP on 28 March. However, a significant downward movement is also questionable. Before the clear support around $1.07 it’d be likely to see buying demand to push the price back up.
This is my personal opinion which does not reflect the opinion of Exness. This is not a recommendation to trade.
$1.10 seems like a significant resistance which could resist testing in the runup to American final GDP on 28 March. However, a significant downward movement is also questionable. Before the clear support around $1.07 it’d be likely to see buying demand to push the price back up.
This is my personal opinion which does not reflect the opinion of Exness. This is not a recommendation to trade.
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.