EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
EUR/USD: euro supported by Cloud
Technical levels: support – 1.1770; resistance – 1.1830.
- Buy — 1.1800; SL — 1.1770; TP1 — 1.1875; TP2 – 1.1930
Reason: bullish Ichimoku Cloud, horizontal Senkou Span A; a weak dead cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are in positive area and may continue growing up.
EUR/USD is supported around 1.1750. However, the pair has already fallen below the summer support line. We’ll view buy trades only when the pair returns above 1.1800.
The NZD/JPY pair is trading within the cloud. A failed attempt to move higher will push the market to exit the Kumo, confirming a bearish scenario.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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