Technical and fundamental analysis
The lack of buyer interest is shown by the fact that the Relative Strength Index (RSI) signal on the 4-hour chart remains below 50 and that EUR/USD ended the past five 4-hour candles below the 20- and 50-period Simple Moving Averages (SMA).
The end-point of the most recent downturn, 1.0730, lines up as the first support before the psychological level, 1.0700, on the downside. First resistance, facing north, is at psychological level, or 1.0800, and is ahead of 100-period SMA, or 1.0820–1.0830, and Fibonacci 38.2% retracement, or 1.0900, and 200-period SMA, or 1.0820–1.0830.
The lack of buyer interest is shown by the fact that the Relative Strength Index (RSI) signal on the 4-hour chart remains below 50 and that EUR/USD ended the past five 4-hour candles below the 20- and 50-period Simple Moving Averages (SMA).
The end-point of the most recent downturn, 1.0730, lines up as the first support before the psychological level, 1.0700, on the downside. First resistance, facing north, is at psychological level, or 1.0800, and is ahead of 100-period SMA, or 1.0820–1.0830, and Fibonacci 38.2% retracement, or 1.0900, and 200-period SMA, or 1.0820–1.0830.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.