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 runs into 100 hour MA again and finds sellers

A.R Chowdhury by A.R Chowdhury
March 28, 2022
Reading Time: 4 mins read
0
EURUSD runs into 100 hour MA again and finds sellers

EURUSD

EURUSD ping pongs between support floor and 100H MA

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

The  EURUSD 
EUR/USD

The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars.  Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, behind only the US dollar. This currency pair is the most traded and liquid currency pair on the market.As the most popular trading pair, the EUR/USD is a staple of every brokerage offering and often has some of the lowest spreads relative to other pairs. Ultimately, the currency follows the two most economic blocs in the world and sees the most volume for this reason.The EUR/USD has a wide range of factors that influence its rates. From the EUR side, economic data in the Eurozone as well as internal factors in the bloc can easily impact rates. Even small member states can effectively weigh on the EUR, as seen in Greece during bailout talks in the 2010s. Alternatively, developments in the United States and the Federal Reserve commonly affect the EUR/USD. Many examples include the bailouts during the Financial crisis, tax cuts during the Trump Administration, and Covid-19 relief measures, among others.

The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars.  Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, behind only the US dollar. This currency pair is the most traded and liquid currency pair on the market.As the most popular trading pair, the EUR/USD is a staple of every brokerage offering and often has some of the lowest spreads relative to other pairs. Ultimately, the currency follows the two most economic blocs in the world and sees the most volume for this reason.The EUR/USD has a wide range of factors that influence its rates. From the EUR side, economic data in the Eurozone as well as internal factors in the bloc can easily impact rates. Even small member states can effectively weigh on the EUR, as seen in Greece during bailout talks in the 2010s. Alternatively, developments in the United States and the Federal Reserve commonly affect the EUR/USD. Many examples include the bailouts during the Financial crisis, tax cuts during the Trump Administration, and Covid-19 relief measures, among others.
Read this Term
started the US session near it’s lows after a down, up and back down rotation into the North American session. The “up” from earlier in the day stalled against its 100 hour moving average. Move back to the lows at the start of the US session moved below a swing area between 1.0960 and 1.09649.

In the earlier post at the start of the day, I warned of a move back above the swing area at 1.10960 to 1.09649. That is what happened, and the sellers were once again forced to buy.

Like in the early European session, the buying once again moved the price up to retest the 100 hour MA. And for the 2nd time today (just like for the 2nd time at the lows), the sellers leaned. The price has moved off the level.

What now?

There are two tests of the lows down to 1.09438, and two tests of the highs against the 100 hour MA at 1.09969. Between those extremes, sits the 50% of the range since the March 7 low at 1.0971 and the swing level at 1.09604 to 1.09649.

Needless to say, the buyers and sellers are battling with a tilt to the sellers (below the 100 and 200 hour MA) but with the caveat that they still have much to prove.

So get below the 50% at 1.0971. Get below the 1.09604 and then get below the 1.09438 to 1.09487 and those would satisfy the steps to increase the bearish bias.

If those steps can’t be made – or if buyers lean against the 50% and push above the 100 hour MA – then the bias shifts more in favor of the buyers once again with the 200 hour MA at 1.10184 as the next key upside target to get above.

The lines in the sand have been drawn. It is up to the sellers (or buyers), to cross over the ones that would increase the bias in the direction of the break.

ADVERTISEMENT – CONTINUE READING BELOW

Source link

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 USD is the strongest while the JPY is the weakest of the major currencies

The USD is the strongest while the JPY is the weakest of the major currencies

EURUSD races toward highs from earlier this month

EURUSD races toward highs from earlier this month

Leave a Reply Cancel reply

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

Recommended Stories

USD/JPY keeps lower on softer risk mood, but key near-term level limits downside

May 15, 2020

AUDUSD spikes to a new session high

August 6, 2020

US stocks close sharply higher. NASDAQ prints a new all-time high

June 5, 2020

Popular Stories

  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • New highs for US stocks. The Nasdaq continues to lead

    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
  • 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.