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 is consolidating between the lower 'Window' and the Moving Averages. It's likely that the market is going to test the 55 Moving Average, which could be a departure point for a decline towards the next 'Window' (1.1287).


The Monday's 'Window' has acted as support many times, but the Moving Averages are acting as resistance, so the market is moving sideways. There's a bullish 'Engulfing' pattern, so we should watch the nearest resistance at 1.1363 as an intraday target.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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