empty
 
 
31.03.2023 08:20 AM
EUR/USD retesting buyers

The EUR/USD pair increased as much as 1.09257 today where it has found resistance again. It's trading at 1.0901 at the time of writing. It seems undecided in the short term, that's why we need to wait for new opportunities.

Later, the economic data should move the markets. The Eurozone is to release the CPI Flash Estimate, Core CPI Flash Estimated, and the Unemployment Rate. In addition, the German retail sales data could have an impact.

On the other hand, the US is to release the Core PCE Price Index, Chicago PMI, Revised UoM Consumer Sentiment, Personal Spending, and Personal Income. The USD needs strong support from the US economy to be able to take full control.

EUR/USD Accumulation!

This image is no longer relevant

As you can see on the H1 chart, the rate registered only false breakouts through the weekly R1 (1.0920), failing to hit the 1.0929. The price action signaled exhausted buyers in the short term.

Still, the median line (ml) and the 1.0892 represent critical downside obstacles. Testing and retesting these support levels may announce a new bullish momentum.

EUR/USD Outlook!

A valid breakdown below 1.0892 activates more declines and brings a short opportunity.

False breakdowns below the median line (ml) and through 1.0892 signals a bullish momentum. A new bullish signal could appear after making a new higher high, after making a bullish closure above 1.0929.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback