How to Trade on FOMC Press Conference?
What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
EUR/USD: reading technical levels
2020-04-16 • Updated
All markets experience substantial volatility, the most popular currency pair is no exception. EUR/USD reversed sharply down this week after almost reaching the 1.15 mark.
As you can see from the W1 chart, EUR/USD ran into resistance of the 100- and 200-week MAs at 1.1340. Notice that the 100-week MA went below the 200 line – that’s a bearish development. Currently the pair’s testing the 50-week Moving Average in the 1.1120 zone.
On the D1, the price is getting close to the horizontal daily MAs. These lines may provide some support. If the euro manages to stay above 1.1100, its attempts to recover will meet resistance at 1.1220 ahead of 1.1300. At the same time, Fibonacci tool shows that the price has retraced more than 50% of the February-March advance to the downside. The next Fibonacci targets to watch on the downside lie at 1.1050 (61.8% Fibo) and 1.0930 (78.6%).
Similar
Stock Market Drops. Will Correction Continues?
The US broad-market index, S&P 500, has been pressed below the 50-day moving average for the first time since March! Why?
Trade Ideas on September 6-10
Bitcoin At the end of the past week, Bitcoin broke through the big resistance level of $50 400 and reached $51 500 after the worse-than-expected US labor data…
Latest news
Walmart earnings outlook
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Japan's inflation is at 2%, but what about a weaker Yen?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
What to trade on May 16-20?
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
