The EURUSD has pulled back during the trading session on Thursday as the 200-Day EMA has come back into the picture, with the 1.0350 level is an area that a lot of people are paying attention to as well. EURUSD sell forextrader forex
has come back into the picture, with the 1.0350 level is an area that a lot of people are paying attention to as well.
It is clear to me that we are overbought at this point, so at the very least I suspect that we are going to have to see sideways trading action to work off the froth, or pullback in order to find value for those who are wanting to buy the euro.The 1.0350 area is basically where the support had been previously, so it does make a lot of sense that the area could offer a bit of “market memory”, and therefore resistance.
In fact, there was a leak across the wires today that suggested that the ECB was only going to be able to raise interest rates by 50 basis points at the next meeting, instead of the anticipated 75. If that is in fact the case, then the euro won’t be as appealing as the US dollar, especially if theBeyond all that, we also must worry about whether or not there is going to be a slowdown globally, and if that is in fact going to be the case, then a lot of people run to the US dollar for safety.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silver Price Analysis: XAGUSD holds comfortably above $21.00, just below 200-day SMASilver Price Analysis: XAGUSD holds comfortably above $21.00, just below 200-day SMA – by hareshmenghani Silver Commodities Technical Analysis XAGUSD
Read more »
Gold Remains Vulnerable Below $1800 Key Level and 200-Day MAGOLD (XAU/USD) Price: Spot gold’s recent rally appears to have run out of steam as markets shift between risk-on and risk-off sentiment. A test of $1800 remains a possibility.
Read more »
Gold Forecast: Markets Show Signs of WeaknessGold markets have struggled a bit during the trading session on Thursday, as we are threatening to break back through the 200 Day EMA.
Read more »
Mill Valley officials pledge more arrests in massive party with over 200 juvenilesPolice cited three juveniles during Nov. 5 incident, including the one who allegedly hosted the party where it all started. Investigators have been reviewing video and conducting interviews since t…
Read more »
Roku will lay off 200 employees after warning of weak Q4 results | EngadgetRoku is the latest tech company to announce job cuts, as it slashes 200 jobs..
Read more »