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 Holding Above 1st Support At 1.0840/30

Published 04/25/2017, 06:10 AM
Updated 07/09/2023, 06:31 AM

EUR/USD Weekly Chart

EUR/USD holding above first support at 1.0840/30 keeps bulls in full control to target the March high at 1.0900/04 before the high yesterday at 1.0930/35. This just happens to be important 61.8% Fibonacci resistance so is key to direction. It was the high for the day as we suspected and could hold again on a retest with further 3 month trend line resistance at 1.0945/50. Try shorts with stops above 1.0980 but further gains only run in to the 500 day moving average at 1.1000.

Strong support at 1.0840/30 is a buying opportunity on a retest with stops below 1.0800. A break below here however targets last week's high at 1.0777 then 1.0754/50. If we continue lower look for strong support at 1.0710/05. Try longs with stops below 1.0680.

Latest comments

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.