Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

EUR/USD a little higher on the session, buyers look to wrestle back some near-term control

A.R Chowdhury by A.R Chowdhury
August 14, 2021
Reading Time: 2 mins read
0

EUR/USD moves up to 1.1755 on the session

The pair is trading at the highs for the day, as the euro inches a little higher even as major currencies in general look more subdued overall.

EUR/USD D1 13-08

EUR/USD is up to 1.1755 and is testing the July lows (now turned resistance) @ 1.1750-55. That will be the key region to watch on the daily as sellers look to try and pin the pair towards 1.1700, after having failed to break support @ 1.1704-11 earlier this week.

In other words, sellers attempted to breach below support @ 1.1704-11 but didn’t manage to. They kept some semblance of control technically below 1.1750-55 but if buyers can push past that area, then sellers would see a loss of momentum i.e. less conviction.

Looking at the near-term chart though:

EUR/USD H1 13-08
Price action has already suggested that sellers are losing some near-term control, with price now moving back in between the key hourly moving averages; 100-hour moving average (red line) @ 1.1734 and 200-hour moving average (blue line) @ 1.1783.

As such, the near-term bias is seen to be more neutral but from a technical perspective, the 1.1750-55 region adds another layer for sellers to try and limit any near-term upside.

But break above that and there is room to roam for buyers towards the 200-hour moving average @ 1.1783 next. That said, any shift towards an upside bias requires a break above that before the 1.1800 level gets in the way.

As things stand, I still see the dollar as keeping in a favourable spot but the greenback does appear to have lost some momentum/appetite since Wednesday.

Unless there is a shift to the market landscape, I reckon we are more likely to retest the year’s lows again than we are to move towards the recent highs @ 1.1900 at this stage.

However, a lot will come down to how the market positions ahead of Jackson Hole too and the developments leading up to it, so we’ll see. For now, the market is still in search of that next catalyst for a move.

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post

Dollar mostly steady as major currencies seen more restrained on the day

Major currencies muted to start the session

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

AUD/USD battles back to test key near-term levels

May 12, 2020
EURUSD trades lower but between bullish/bearish barometers

EURUSD trades lower but between bullish/bearish barometers

September 7, 2020

Major indices close near lows for the day

August 26, 2021

Popular Stories

  • New highs for US stocks. The Nasdaq continues to lead

    New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
  • Bitcoin technical analysis, bulls might be giving up soon

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.