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Euro Price Outlook: EUR/USD Breakdown Pulls Back as USD Holds 105
EUR/USD bears continue to push at resistance, but they’ve been far more reserved on tests of support and there’s another instance of that showing so far this week. Sellers made a loud re-entrance to the pair around the turn of the year, but since then, the bearish trend that’s held has been a slow and grinding type of move. The 200-day moving average came into play a month ago and that started to slow the sell-off. There was a couple of weeks of support there but what ultimately gave bears the fuel needed to elicit a break was the NFP report from a couple of weeks ago. That showed notable strength in the U.S. ... (full story)
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- Posted: Feb 15, 2024 4:20pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 3,553
