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 dribbles lower towards the Monday lows

A.R Chowdhury by A.R Chowdhury
September 16, 2021
Reading Time: 1 min read
0
EUR/USD dribbles lower towards the Monday lows

EUR/USD down 40 pips on the day to 1.1775

EUR/USD H1 16-09
Invest in yourself. See our forex education hub.

The dollar isn’t overwhelmingly strong in European trading but there is an evident push lower in EUR/USD over the past few hours as the pair slides from 1.1810 to 1.1775 and is marked down by 40 pips on the day now.

There isn’t any major catalyst for the move but this ties to more of a push and pull as seen in recent days as sellers now keep near-term control of the pair.

Price action is keeping below both key hourly moving averages so the near-term bias favours sellers but there is support from the Monday low @ 1.1770.

But a daily break below that and the 50.0 retracement level @ 1.1786 sets the stage for an added drop perhaps towards 1.1700 next. Besides a couple of technical considerations as pointed out above, there isn’t much else for traders to work with.

The dollar continues to look more choppy overall but standing its ground in light of any short-term weakness as the Fed’s taper narrative continues to offer some tailwind for the currency going into next week’s FOMC meeting.

I mean we already saw that sort of conviction already after the US CPI report, in which the drag on the dollar was a rather brief one by all accounts.

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
The NZD is the strongest and the CHF is the weakest as NA traders enter for the day

The NZD is the strongest and the CHF is the weakest as NA traders enter for the day

USDJPY moved sharply higher after better than expected retail sales

USDJPY moved sharply higher after better than expected retail sales

Leave a Reply Cancel reply

Your email address will not be published.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

Recommended Stories

USDCAD trades back below 100 hour MA

USDCAD trades back below 100 hour MA

September 14, 2021

The EURUSD runs up to the 100 hour MA and backs off

June 19, 2020
NZDUSD moves above the 100 day MA

NZDUSD moves above the 100 day MA

September 2, 2021

Popular Stories

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

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

    0 shares
    Share 0 Tweet 0
  • What is CFD trading?

    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.