The pair has been rising since the beginning of September. Now, there is a possibility of a reversal.
Technical analysis:
On 1W TF Euro has almost reached the trend (resistance) line, which is heading down
On 1D TF indicators are reversing slowly. MACD Histogram started falling down, 9-EMA started curving - it means that we might see the intersection between the price and the moving average soon.
Summary: for conservative traders it's better to wait till the pair breaks the support level down (120). After that it is possible to sell with the target 118,80.
Fundamental analysis:
On Thursday ECB is taking the decision about the interest rate. It is really hard to give the market additional signals, because the interest rate is on 0% level. Situation with Euro will strongly depend on the comments from ECB's members.
Technical analysis:
On 1W TF Euro has almost reached the trend (resistance) line, which is heading down
On 1D TF indicators are reversing slowly. MACD Histogram started falling down, 9-EMA started curving - it means that we might see the intersection between the price and the moving average soon.
Summary: for conservative traders it's better to wait till the pair breaks the support level down (120). After that it is possible to sell with the target 118,80.
Fundamental analysis:
On Thursday ECB is taking the decision about the interest rate. It is really hard to give the market additional signals, because the interest rate is on 0% level. Situation with Euro will strongly depend on the comments from ECB's members.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.