EUR/USD: Below 1.1695 turns to a negative bias [Video]
|EUR/USD
It is a frustrating time to be trading EUR/USD. With downtrends and uptrends being broken in recent sessions, yesterday’s doji candle of a small daily range adds to the lack of conviction in the market. We have talked previously about the old August/September lows between 1.1695/1.1750 turning into a pivot area, and right now it is arguable that this is a basis of support. However, given that the momentum indicators (RSI and MACD) have become stagnant around their neutral points, whilst shorter moving averages (21 day and 55 day) have flattened off, it is more a case that around 1.1750 is a neutral outlook. Below 1.1695 turns to a negative bias, whilst above 1.1830 turns into a positive bias.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.