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EURUSD in the middle of 2020-2022 downtrend
video EURUSD has been capped below the 50% Fibonacci retracement of the 2020-2022 downtrend at 1.0945 since Friday's flash spike halted near the 1.0980 level and around the resistance trendline from May 2021 on Friday. The US CPI inflation data could generate fresh volatility today at 12:30 GMT, and the protective 50% Fibonacci retracement of the latest downleg is currently feeding optimism that the next move in the price will be on the upside. That statement, however, should be taken with a pinch of salt as both the RSI and the Stochastics have shifted southwards, reflecting a weakening bullish bias. Perhaps a ... (full story)
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- Posted: Mar 12, 2024 6:53am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 3,651
