HomeContributorsTechnical AnalysisEUR/USD: Near-Term Action Looks for Clearer Direction Signals

EUR/USD: Near-Term Action Looks for Clearer Direction Signals

The Euro is standing at the front foot in early European trading on Monday, following a large swings on Thu/Fri.

The action was repeatedly capped by falling 10DMA which reinforces a Fibo barrier at 0.9772 (38.2% of 0.9999/0.9631 bear-leg), with near-term bias expected to remain in neutral mode, while the latter caps.

Mixed daily studies (strong bullish momentum vs MA’s in bearish setup) contribute to directionless near-term mode.

Expect initial bullish signal on break and close above 0.9772 and Thu/Fri tops at 0.9808 that would open way for further recovery and expose pivotal barriers at 0.9859 (Fibo 61.8) and 0.9866 (daily Kijun-sen).

Conversely, dip and close below 0.9718/12 (broken Fibo 23.6% of 0.9999/0.9631 / Fibo 61.8% of 0.9535/0.9999)) would weaken near-term structure and make the downside more vulnerable.

Res: 0.9822; 0.9866; 0.9890; 0.9926.
Sup: 0.9712; 0.9667; 0.9631; 0.9569.

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

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