EUR/USD PRICE ANALYSIS: DEPRECIATES TO NEAR 1.0820 BEFORE THE 21-DAY EMA

avatar
· Views 126



  • EUR/USD could meet the immediate support at the 21-day EMA at 1.0808.
  • Technical analysis suggests a momentum shift toward upward momentum.
  • The key support region appears around the major barrier at 1.0850 and the 38.2% Fibonacci retracement level at 1.0864.

EUR/USD snaps its winning streak initiated on February 14, with the US Dollar (USD) maintaining its position, supported by hawkish remarks from the Federal Reserve’s (Fed) officials on prolonging elevated interest rates. As a result, the EUR/USD pair inches lower to around 1.0820 during the Asian session on Monday.

The immediate support is evident at the 21-day Exponential Moving Average (EMA) at 1.0808, coinciding with the psychological level of 1.0800. A breach below the latter could prompt the EUR/USD pair to navigate the region around 1.0750 following the psychological level of 1.0700, in conjunction with the three-month low at 1.0694.

However, the technical analysis of the EUR/USD pair suggests a bullish sentiment as the 14-day Relative Strength Index (RSI) is positioned above the 50 mark.

Additionally, the Moving Average Convergence Divergence (MACD) is situated below the centerline but exhibits a divergence above the signal line. This lagging indicator suggests a potential transition toward bullish momentum for the EUR/USD pair.

On the upside, the EUR/USD pair may ascend toward testing the key resistance area around the major barrier at 1.0850 and the 38.2% Fibonacci retracement level at 1.0864. A break above this area could lead the EUR/USD pair to retest the previous week’s high at 1.0888 followed by the psychological level of 1.0900


免責事項:本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。

この記事が気に入ったら、著者にチップを送って感謝の気持ちを表しましょう。
応答 0

古いコメントはありません。ソファをつかむ最初のものになりましょう。

  • tradingContest