Wed, Mar 29, 2023 @ 06:08 GMT
HomeContributorsTechnical AnalysisEUR/USD: Downside Was So Far Protected by Fibo 23.6%

EUR/USD: Downside Was So Far Protected by Fibo 23.6%

The Euro ticks higher on Thursday but lacks direction as the price remains within the range for the fifth consecutive.

The downside was so far protected by Fibo 23.6% of 0.9535/1.1032 (1.0679) and nearby top of rising daily cloud which provide solid supports.

At the upside, falling 10DMA (1.0721) caps the action for now and keep the range intact.

Daily techs are bearishly aligned as 14-d momentum stays deep in the negative territory and stochastic is heading south, but signals were partially countered by rising daily cloud and 100/200DMA bull-cross.

We are sidelined and awaiting clearer direction signals, with penetration of rising cloud to signals further weakness, while sustained break above 1.0800 zone pivots (range top / 20DMA) would revive bulls.

US housing data, PPI and weekly jobless claims are in focus today for fresh signals.

Res: 1.0721; 1.0744; 1.0800; 1.0844.
Sup: 1.0679; 1.0655; 1.0573; 1.0483.

Windsor Brokers Ltd
Windsor Brokers Ltd
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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