Dip buyers can’t get the EURUSD much off the lows. Sellers remain in control into the close.

EURUSD

EURUSD keeps the seller in firm control

The EURUSD is looking to go into the weekend with the bearish bias intact.

Looking at the four hour chart above, the pair fell below the low from 2021 (from November) during yesterday’s trade at 1.11853. The corrective move off of the low today at 11207 could only extend to a high of 1.1173 before rotating back to the downside. The current price trades at 1.11413.

Unless the price can extend back above that low and then the 38.2% retracement of the move down from the Wednesday swing high at 1.1193, the sellers remain in firm control. Move above and there still would be more work to do but the buyers would have had some corrective success back to the upside.

The 1.1100 area is the next downside target followed by a swing area between 1.09806 to 1.1018 on more selling in the new trading week. .

Technical Analysis

Articles You May Like

Reminder – US markets are closed on Wednesday, June 19th – market hours impact
Adobe shares soar 17% on better-than-expected results
Forexlive Americas FX news wrap 21 Jun: The USD moves higher helped better flash S&P
Swiss Franc Rallies Amid Falling Yields and Political Risks
Gold price drops on firm US yields, strong USD after solid US data

Leave a Reply

Your email address will not be published.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