EURUSD has moved to the 200 hour MA at 1.1667, and the low of swing area between 1.1663 to 1.1691.
The swing area not only provided support from the end of June into July, but was a key swing area going back to April to November in 2021 (see chart below).
This article was written by Greg Michalowski at www.forexlive.com.
We are available on the following Websites.
- Gold Weekly Forecast: Consolidation channel forms before next breakoutFXStreet Forex & Commodities Analysis - 16 hours agoGold’s (XAU/USD) trading range narrowed as investors assessed macroeconomic data releases from the United States (US), while keeping the uncertainty surrounding the US’ trade regime…
- Forecasting the upcoming week: PMIs loom large, talking about trade talks to continueFXStreet Forex & Commodities Analysis - 13 hours agoThe US Dollar (USD) grappled with slippery highs throughout this week, catching a bid on risk-off market flows fueled almost entirely by political headlines from…
- GBP/USD Forecast: Sellers hesitate as market mood improvesFXStreet Forex & Commodities Analysis - 20 hours agoFollowing Thursday’s choppy action, GBP/USD gains traction and rises toward 1.3450 in the European session on Friday.
- EUR/USD Weekly Forecast: ECB to pause, Trump to keep adding noiseFXStreet Forex & Commodities Analysis - 15 hours agoThe EUR/USD pair edged lower for a second consecutive week, bottoming at 1.1555 but settling at around 1.1650. Financial boards were mostly driven by sentiment,…
- GBP/USD Weekly Forecast: Tepid UK data hints at another leg southFXStreet Forex & Commodities Analysis - 14 hours agoGBP/USD fell for three weeks in a row as risk aversion favored demand for the US Dollar (USD), while tepid United Kingdom (UK) data undermined…