European Session EURUSD looking Range tarding Breakout Today
EURUSD Technical Overview:
Pivot: 1.1685
Day Trading Range: 1.1630 - 1.1740
Key Resistance: 1.1698 - 1.1722 - 1.1735 - 1.1748
Key Support: 1.1685 - 1.1668 - 1.1645 - 1.1610
Technical Indicator:
RSI: RSI facing toward upside moving above 50 level.
Moving Average: SMA200 (1.1633) & SMA100 (1.1670) strong support for EURUSD.
Technical Trade Idea:
Most Likely Scenario: short positions below 1.1685 with targets at 1.1645 & 1.1628 in extension.
Alternative scenario: above 1.1685 look for further upside with 1.1715 & 1.1735 as targets.
Fundamental:
The pair regained some positive traction during the Asian session on Wednesday, albeit remained well below the 1.1700 handle as investors continue to assess the latest escalation of US-China trade tensions. There isn’t any market-moving economic data due for release from the Euro-zone, while the US economic docket offers housing market data – building permits and housing starts. The range bound price action is expected to continue in near future as the spread between the US and German bond yields for 10-year bonds currently stands at 257 basis points – the highest level since Aug. 8.
The daily chart of the EUR/USD is flashing a bullish reversal pattern, but a breakout may remain elusive, as the bond yield differentials are rising in the EUR-negative manner.
Today In US Session Mr Draghi speech more important for pair.
Thanks
YoCryptoManic
Pivot: 1.1685
Day Trading Range: 1.1630 - 1.1740
Key Resistance: 1.1698 - 1.1722 - 1.1735 - 1.1748
Key Support: 1.1685 - 1.1668 - 1.1645 - 1.1610
Technical Indicator:
RSI: RSI facing toward upside moving above 50 level.
Moving Average: SMA200 (1.1633) & SMA100 (1.1670) strong support for EURUSD.
Technical Trade Idea:
Most Likely Scenario: short positions below 1.1685 with targets at 1.1645 & 1.1628 in extension.
Alternative scenario: above 1.1685 look for further upside with 1.1715 & 1.1735 as targets.
Fundamental:
The pair regained some positive traction during the Asian session on Wednesday, albeit remained well below the 1.1700 handle as investors continue to assess the latest escalation of US-China trade tensions. There isn’t any market-moving economic data due for release from the Euro-zone, while the US economic docket offers housing market data – building permits and housing starts. The range bound price action is expected to continue in near future as the spread between the US and German bond yields for 10-year bonds currently stands at 257 basis points – the highest level since Aug. 8.
The daily chart of the EUR/USD is flashing a bullish reversal pattern, but a breakout may remain elusive, as the bond yield differentials are rising in the EUR-negative manner.
Today In US Session Mr Draghi speech more important for pair.
Thanks
YoCryptoManic
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