Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

EUR/USD Could Test Moving Average Support

Published 01/25/2023, 09:58 AM

EUR/USD Daily Chart

  • The EUR/USD pair has been forming a wedge top over the past ten trading days. This will increase the odds of a two-legged pullback to the moving average (blue line).
  • The bulls want the market to continue the slight pullback bull trend. However, the upside will likely be limited, and the market will soon transition into a trading range.
  • The bears need to form more selling pressure before most of the bears are eager to sell.
  • The weekly chart will likely form a higher low major trend reversal over the next several months.
  • This means that the daily chart will likely have a deep pullback which could test 1.044 before the market finds buyers.

Latest comments

We are waiting for this 1.044
Thank you for sharing the article 💯
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.