EUR/USD was actually bullish final 12 months, climbing from round 1.08 to 1.2350s by the primary week of January this 12 months. However, since the
EUR/USD was actually bullish final 12 months, climbing from round 1.08 to 1.2350s by the primary week of January this 12 months. However, since then the highs have been getting decrease, which signifies that the bullish momentum is perhaps over now.
In January we noticed a fast reversal down, however the decline ended at 1.1950, which fashioned a help space round it. Throughout most of February EUR/USD moved greater, however it couldn’t make any new highs, which exhibits that sellers are stronger than consumers on this pair now.
It moved decrease and final evening sellers broke beneath the earlier low at 1.1950. Earlier right this moment, we noticed a retrace greater, however it looks like the earlier help has now became resistance so we determined to open a promote foreign exchange sign beneath it. The 20 SMA (grey) was additionally serving to, offering resistance, which has rejected the worth now. EUR/USD is retreating again down now, so this commerce appears to be like good in the intervening time.