EURUSD technical analysis


Technical reviews

The pair dropped significantly at the end of the week amid a strong increase in inflation in the US, which may become the basis for the Fed to begin the process of reducing purchases of government bonds in the fall of this year. This will support the dollar, but its growth, paradoxically, may be held back by the lack of clear signals in this regard from the Fed. In general, these two opposite trends will contribute to the growth of volatility with sharp "shots" of the price both up and down.
Technical side:
The price is located below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is turning up above the oversold zone.  Stoch also shows a local reversal in the oversold zone.
EURUSD rate online: monitor the price movement in real time.

Trading Idea: 
If the pair drops below 1.2100, it will also drop to 1.2050.

Author: GC
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