The Euro went back and forth during the trading session on Tuesday, breaking above the crucial 1.1250 level. This is a market that sees a lot of resistance at this region, so the fact that we gave back quite a bit of gains is in a huge surprise. However, it looks as if we are at least sticking around this area. I think there is a lot of confusion right now, and Jerome Powell suggesting that perhaps the Federal Reserve may be willing to cut rates if necessary threw even more of a mess into the market. At this point, if we break down below the bottom of the candle stick for the trading session, then I think the market rolls over and goes back into the consolidation area. However, if we break above the highs of the day it’s a sign that we are probably going to try to grind to the upside.
Conformation:
Support
Resistancce
Trendline
Conformation:
Support
Resistancce
Trendline
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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.