Placeholder canvas
HomeFinance NewsEURUSD fails to sustain above 100-hour MA, reverses downwards.

EURUSD fails to sustain above 100-hour MA, reverses downwards.

Published on

The EURUSD currency pair experienced a stall in its upward movement as it approached the 100-hour moving average and the 38.2% retracement level from its previous high. Buyers attempted to push the price above the moving average but were unable to do so, leading to a shift in momentum towards sellers. The price has now dropped below a significant support level at 1.05541, indicating a more balanced market in the short term.

In the medium term, buyers face several challenges to establish control. They need to not only surpass and maintain above the 100-hour moving average, but also the 38.2% retracement level and the range between 1.0606 and 1.0616. These milestones are crucial for buyers to gain more influence in the market.

Overall, the article highlights the struggle between buyers and sellers in the EURUSD currency pair. While buyers initially showed strength, they were unable to overcome key resistance levels, leading to a shift in momentum towards sellers. The article emphasizes the need for buyers to prove their control by surpassing various hurdles in the medium term.

Source link

Latest articles

Biden Criticizes Putin and Trump at San Francisco Fundraiser

In a recent Fox News town hall, former President Trump compared his legal troubles...

Nvidia’s strong earnings report may have negative impact on stock, warns JPMorgan.

Investors are anxiously awaiting Nvidia's fourth-quarter earnings report, with sky-high expectations leading to concerns...

February 22: Live Stock Market Updates for Dow and S&P

Asian equities and US stock futures soared on Thursday after Nvidia Corp. announced a...

CAD-based renders of Google Pixel Fold 2 leak, camera visor removed.

The latest leaks of the upcoming Google Pixel Fold 2 reveals the design and...

More like this

Biden Criticizes Putin and Trump at San Francisco Fundraiser

In a recent Fox News town hall, former President Trump compared his legal troubles...

Nvidia’s strong earnings report may have negative impact on stock, warns JPMorgan.

Investors are anxiously awaiting Nvidia's fourth-quarter earnings report, with sky-high expectations leading to concerns...

February 22: Live Stock Market Updates for Dow and S&P

Asian equities and US stock futures soared on Thursday after Nvidia Corp. announced a...