Breaking News
Investing Pro 0
New Year’s SALE: Up to 40% OFF InvestingPro+ CLAIM OFFER

EUR/USD Retraces Lower as 200-Day SMA Rejects Advance

By XM Group (Trading Point )CurrenciesNov 21, 2022 06:19AM ET
www.investing.com/analysis/eurusd-retraces-lower-as-200day-sma-rejects-advance-200632621
EUR/USD Retraces Lower as 200-Day SMA Rejects Advance
By XM Group (Trading Point )   |  Nov 21, 2022 06:19AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
EUR/USD
+0.13%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
EURUSD has been attempting a rebound in the short term after escaping its descending channel to the upside. However, in the past few daily sessions, the advance has paused as the price has been constantly held down by the 200-day simple moving average (SMA).

The short-term oscillators currently suggest that bullish forces are waning but remain in control. Specifically, the RSI is pointing downwards above its 50-neutral mark, while the MACD histogram is softening above both zero and its red signal line.

Should selling pressures intensify further, the September high of 1.0190 could act as the first line of defence. Sliding beneath that floor, the spotlight could turn to 1.0090 before the crucial parity region comes under examination. Failing to halt there, the price may then test the November low of 0.9729.

To the upside, if bullish forces re-emerge and push the price above the 200-day SMA, initial resistance might be encountered at the recent high of 1.048. Conquering this barricade, the bulls could then aim at the June resistance of 1.0614. Even higher, the 1.0780 hurdle could prove a tough one for the price to overcome.

Overall, EURUSD appears to be experiencing a minor pullback after the 200-day SMA capped its upside. Therefore, breaking above the latter could signal the resumption of the pair’s short-term uptrend.

EUR/USD
EUR/USD

EUR/USD Retraces Lower as 200-Day SMA Rejects Advance
 

Related Articles

Alexander Kuptsikevich
U.S. Dollar Poised for a Run By Alexander Kuptsikevich - Jan 30, 2023

This week has all the makings of being vital for the coming weeks and months, with the most important publications for the market in focus. The week’s main event will undoubtedly...

Scott Barkley
AUD/JPY Trying to Reverse By Scott Barkley - Jan 30, 2023

Bullish: AUD/JPY is currently at 92.07 in a range and the start of a new channel short.  We are looking for a continuation to the S2  at the 91.28 area with a further target of the...

EUR/USD Retraces Lower as 200-Day SMA Rejects Advance

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email