EUR/USD has
been descending slowly for the past few days and it finally reached 1.1000
which is a considerable level of support. I expect that it will be testing it
for some time before it manages to break below it. Or, in case it fails to
break below it will bounce off the support and move to the upside again so it
can test the resistance at 1.1170. On the other hand, if the pair does break
below 1.1000 we can expect a further move to the downside and to the next
significant support level visible on the daily filter chart, which is at
1.0850. Either way, range continues.
Excellent analysis,thank you.
ReplyDelete1.100 is critical support level.
ReplyDeleteAll eyes now turn to the US as the market waits for the Fed's Monetary Policy Statement later today, regarding the possibility of an interest rate hike in September.
ReplyDeleteThrilling movement, let's see how Fed's reporting tomorrow will affect.
ReplyDeleteImportant information!
ReplyDelete