EUR/USD: 34 Moving Average acted as resistance

EUR/USD: 34 Moving Average acted as resistance


The 34 Moving Average has acted as resistance, so the price so consolidating. It's likely that the pair is going to reach the nearest resistance at 1.1627. A pullback from this level could be a departure point for a decline towards the next support at 1.1548 - 1.1526.


The market is consolidating along the Moving Averages. The main intraday target is the closest resistance at 1.1619 - 1.1634. If a pullback from this area happens next, bears will probably try to reach another support at 1.1574 - 1.1548.




EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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