REDATOR Ben Graham Posted February 17 REDATOR Report Share Posted February 17 EUR/USD is trading around 1.1827, below the 21 SMA located around 1.1861, and retreating after being rejected off strong resistance around the 50% Fibonacci retracement level.The euro is expected to reach the 200 EMA around 1.1803 in the coming hours and could even return to early February levels around 1.1750.If the euro finds good support around the 200 EMA, it could be seen as an opportunity to buy in anticipation of a resumption of its upward cycle. EUR/USD could reach the 61.8% Fibonacci retracement, which also converges with the 6/8 Murray around 1.1962.Given that the euro remains under downward pressure, any technical rebound, as long as the price remains below the psychological level of 1.20, will be seen as a signal to continue selling in the coming days.The material has been provided by InstaForex Company - www.instaforex.com Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
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