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

EURUSD backs off from its 200 hour moving average

A.R Chowdhury by A.R Chowdhury
September 10, 2021
Reading Time: 2 mins read
0
EURUSD backs off from its 200 hour moving average

Support yesterday near 1.1800 level

As the press conference continues with ECBs Lagarde after the PEPP reduction, the EURUSD is backing off from higher levels. 

Support yesterday near 1.1800 level

Looking at the hourly chart, the price yesterday bottomed rate ahead of the 1.1800 level, and within a swing area between 1.1800 and 1.18044 (see red numbered circles and lower yellow area). The price bounced up and traded above and below the 38.2% retracement in the Asian session at 1.18148. 

During the European session, the price has moved higher today, but stalled right near the 200 hour moving average at 1.18407 (that was in fact the high price for the day).  I spoke to this key level yesterday HERE in the end of day wrap.  The price is currently moving back to the downside and trades at 1.18173 as I type (and as Lagarde speaks). 

A move back below the 38.2% retracement would have traders once again looking toward the support at the 1.1800 area. Move below that and the focus will be on the 50% midpoint of the move up from the August 20 low at 1.17859. 

Watch the 38.2% retracement for close clues, but the sellers did come in where they were expected at against the 200 hour moving average. That keeps the sellers more in control at least in the short term with more work to do (including getting to the 50% midpoint).  

Invest in yourself. See our forex education hub.

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
USD/JPY a little higher on the day as the chop around this week continues

USD/JPY a little higher on the day as the chop around this week continues

EUR/USD meanders post-ECB, what’s next?

EUR/USD meanders post-ECB, what's next?

Leave a Reply Cancel reply

Your email address will not be published.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

Recommended Stories

US stocks open lower. Dow string of 6 up days in jeopardy.

June 10, 2020
AUD/USD runs into test of key near-term levels as aussie keeps lower post-RBA

AUD/USD runs into test of key near-term levels as aussie keeps lower post-RBA

September 7, 2021

The USDJPY trades between its 100 and 200 hour moving average

July 17, 2020

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.