EUR/USD rose modestly on Tuesday to continue its recent hot streak, as investors continued to digest dovish comments from an influential Federal Reserve policymaker on the increased possibility of a delayed interest rate hike from the U.S. central bank.
The currency pair traded in a broad range between 1.0815 and 1.094, before settling at 1.0918, up 0.0023 or 0.21% on the session. The euro has now closed higher against the dollar in each of the last two sessions and six of its last seven trading days. On the new year, however, the pair is still relatively flat, as the euro is up by roughly 0.50% against its American counterpart since January 1.
EUR/USD likely gained support at 1.0538, the low from December 3 and was met with resistance at 1.1496, the high from Oct. 15.
Our Most Likely Scenario :- Long Above @1.0904 with target 1.0968 if its break 1.0968 then our next target is 1.1025 to continue its uptrend
Alternative:- Short below @1.0904 with 1.0834 to for further retracement.
Moving average gives bullish indication for this pair.
RSI still moves in uptrend
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RSI still moves in uptrend
*Remember your capital at risk
To receive daily technical analysis report with complete details directly via email please register on www.ezinvest.com
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