Eurusd hits multiple resistance -
Broken monthly uptrend channel resistance.
Broken yearly bottom value (R3, now resistance)
Monthly max value (R3 reversal level, after that euro will be viewed overpriced). Now Euro is max expensive in monthly terms. There will be very big few buyers willing to pay so much.
Daily Kumo cloud resistance (price inside Kumo cloud resistance zone).
Price below monthly Kijun and in downtrend on monthly.
Price is likely to reverse from here.
For educational purposes only.
Broken monthly uptrend channel resistance.
Broken yearly bottom value (R3, now resistance)
Monthly max value (R3 reversal level, after that euro will be viewed overpriced). Now Euro is max expensive in monthly terms. There will be very big few buyers willing to pay so much.
Daily Kumo cloud resistance (price inside Kumo cloud resistance zone).
Price below monthly Kijun and in downtrend on monthly.
Price is likely to reverse from here.
For educational purposes only.
Note
Bad GDP news from USA drive eurusd up at 12:30 am UTC. Dollar fell BCS of fundamentals.finance.yahoo.com/news/gdp-1q-2020-us-economic-activity-coronavirus-pandemic-155756514.html
Note
12:30 am UTC major news stabs the dollar - U.S. gross domestic product turned negative for the first time since 2014! -4.8 much worse than anticipated. For the first time in 6 yrs US GDP goes negative. American economy registered the first fall in years.
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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.