EURUSD Long-Term Channel Mar 31, 2017
EURUSD has been selling off recently but it could be approaching a turning point as it nears the bottom of the longer-term ascending channel visible on the 4-hour time frame.
EURUSD has been selling off recently but it could be approaching a turning point as it nears the bottom of the longer-term ascending channel visible on the 4-hour time frame.
EURUSD’s upward movement from 1.0494 extended to as high as 1.0905.
The EURUSD pair initially fell during the day on Friday, but found enough support at the 1.0750 level to turn these around to form a hammer.
The euro finds itself higher across the board. The EUR/USD has risen above the 1.0800 handle again, the EUR/GBP to 0.8650 and the EUR/JPY was back at 120.00 at the time of writing.
EURUSD remains in uptrend from 1.0494, the fall from 1.0824 is likely consolidation of the uptrend.
The EURUSD pair fell initially during the day on Wednesday but found enough support just below the 1.08 level to turn things around and form a hammer.
EURUSD failed to break below 1.0493 support and is now facing the channel resistance.
The EURUSD pair fell during the Thursday session, testing the 1.05 level for support.
The EURUSD pair initially fell on Tuesday, but found enough support underneath to bounce a bit and reach towards the 50-day exponential moving average.
The EURUSD pair rallied on Monday, as we continue to see plenty of volatility.