Current situation
The U.S. currency maintained control of the flows on Wednesday. The pair extended its losses below 1.0900. Sellers managed to lead the spot to 1.0850 during the day trade. The technical indicators were mixed in the 4 hours timeframe. The 50,100 and 200 EMAs were bullish while MACD and RSI pointed to buyers’ activity decline. The resistance is at 1.0900, the support comes in at 1.0850.
Trading recommendations
A move below 1.0850 will signal the strength of sellers sending the euro to 1.0800.
The U.S. currency maintained control of the flows on Wednesday. The pair extended its losses below 1.0900. Sellers managed to lead the spot to 1.0850 during the day trade. The technical indicators were mixed in the 4 hours timeframe. The 50,100 and 200 EMAs were bullish while MACD and RSI pointed to buyers’ activity decline. The resistance is at 1.0900, the support comes in at 1.0850.
Trading recommendations
A move below 1.0850 will signal the strength of sellers sending the euro to 1.0800.
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