Hello Traders, EUR/USD has rebounded strongly just after touching the
100-day EMA level. The rebound was fueled by the FOMC event yesterday.
Technically, this is a bullish sign. There is no resistance until 1.0980
level, so we can expect price to reach the 1.0980 level soon. Keep in mind
that this is a very weak resistance, so if there is enough bullish impulse, this
resistance may be broken soon.
A stronger resistance lies at 1.1140 which is our first target for selling
100-day EMA level. The rebound was fueled by the FOMC event yesterday.
Technically, this is a bullish sign. There is no resistance until 1.0980
level, so we can expect price to reach the 1.0980 level soon. Keep in mind
that this is a very weak resistance, so if there is enough bullish impulse, this
resistance may be broken soon.
A stronger resistance lies at 1.1140 which is our first target for selling
Note
Price seems to be going through a pullback, it is likely that the FOMC-induced spike will be fadedNote
Witnessing heavy selling pressure, the spike is being completely faded hereNote
Selling pressure still visible, price testing 100day EMA level.Note
This idea has generated 130 Pips profit
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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.