• The US Dollar erased all of the gains it made from May 22 till Oct 22
• 20 Moving Average acting as a resistance, the index is unable to break it
• Possible descending triangle, a bearish continuation pattern
• 100.80 support has been tested multiple times, increasing the odds of the bears breaking it and selling pressure dominating
• Were the bears able to break the above level, next support is the 100 psychological level followed by 99.34 and 97.70
• A break of the triangle exposes the index for a 2% move lower, taking the EUR/USD pair to 1.12-1.13 level
• 20 Moving Average acting as a resistance, the index is unable to break it
• Possible descending triangle, a bearish continuation pattern
• 100.80 support has been tested multiple times, increasing the odds of the bears breaking it and selling pressure dominating
• Were the bears able to break the above level, next support is the 100 psychological level followed by 99.34 and 97.70
• A break of the triangle exposes the index for a 2% move lower, taking the EUR/USD pair to 1.12-1.13 level
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.