Vea también
07.03.2023 07:42 AM
EURUSD rallied through the 1.0696 high late during the New York session on Monday. The single currency pair is still seen to be trading just below 1.0690 at this point in writing as the bulls prepare to push through the 1.0720-40 zone. Immediate resistance is seen around 1.0720, which could put pressure and drag prices lower again.
EURUSD is unfolding a corrective wave higher towards 1.0850 before the bears are back in control to drag prices below the 1.0500 interim support. The instrument is progressing within a larger-degree corrective wave towards 1.0100 in the next several weeks to come. Please note that the current rally from 1.0535 is just a retracement as the bears will be ready to come back from 1.0850.
EURUSD faces resistance around 1.0720-40, followed by 1.0850; while interim support comes around the 1.0530 mark. Also, note that 1.0850 is the Fibonacci 0.618 retracement of the recent downswing between 1.1030 and 1.0530 levels respectively. Hence, the probability remains high for a bearish turn if prices manage to reach there.
Potential short-term rally towards 1.0700-20 and 1.0850 then lower again
Good luck!
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
