The EUR/USD reached hard resistance and target dominance at 1. 20. Will it be worth acting to create a further bearish setback?Or will the uptrend succeed over it?
The main one is whether the value action ended with a bullish wave C (pink) or if it will push up for a wave 3 (pink).
The reversal is displayed once the value goes below the Fibonacci retracement 50-61. 8% soon. In this case, a downtrend has an advantage (orange arrows).
EUR / USD hit the Fibonacci target of -27. 2% to 1. 20 (as predicted in the previous analysis). The bearish reaction of 80 pips reached the past peak (blue box) and the 21 ema zone for the up move.
The answer about the escape direction:
A breakout (green arrow) above the resistance trend line (orange) and a inflection point of 1. 20 check some other section in the uptrend.
A breakout (orange arrow) below the 21 ema zone and trendline (green) can send a large decrease for a complex correction in the Y wave (red) of a 4′ long wave.
In the 1-hour graph, the existing bearish retracement can be only one wave of four (purple). But the worthwhile action will have to be a triangular style (red and blue arrows), in a different way, the bearish impulse can simply involve a reversal.
The reversal is shown once the value goes below the 50-61. 8% Fibonacci retracement soon. In this case, a downtrend has an advantage (orange arrows).
A breakout over the uptrend or more sensitive after a triangular trend can simply check the uptrend.
Research conducted with the ecs approach. SWAT and the ebook.
The EUR/USD resumed its profits. Optimism about a vaccine and hopes for recovery weigh on the safe haven dollar. Euro inflation fell by -0. 3% and the MEPs were mixed. The US ISM production PMI is expected. But it’s not the first time And the testimony of Fed President Powell.
The GBP/USD pair fell from 1. 34 when EU and UK negotiators sent combined messages about the chances of a Brexit deal being reached this week despite the points of conflict.
Gold (XAU/USD) is blocking its rebound from the five-month lows of $1765 in Tuesday’s European session, while the 100-hour moving average (HMA) helps keep the rapid increase close to $1797.
Markets have resumed their profits and the trend has dropped as dust accumulates from end-of-month flows. Optimism about vaccines and Brexit counter to Powell and Yellen’s considerations about the U. S. economy.
Note: All data on this page is subject to change. Use of this is an acceptance of our user agreement. Read our privacy policy and legal warning.
Trading currencies with margin carries a point of maximum threat and may not be suitable for all investors. The maximum degree of leverage can play against and against you. taking into account your investment goals, your point of fun and your appetite for threats. You may lose all or part of your initial investment, so you deserve not to invest cash you can’t lose. threats related to foreign exchange transactions and seek the recommendation of an independent monetary adviser in case of doubt.
The reviews expressed in FXStreet are by individual authors and do not necessarily constitute the perspectives of FXStreet or its administration. FXStreet has not verified the accuracy or factual basis of any statement or made through an independent author: errors and omissions may occur. All reviews, news, research, analysis, value or other data contained on this site, through FXStreet, its employees, partners or contributors, are provided as a general market observation and do not constitute investment advice. FXStreet shall not be liable for any loss or damage, including, but not limited to, any loss of profits, which may result directly or indirectly from the use or be accepted as true in this data.