EUR/USD: Euro pulled back below its 500 EMA
|EUR/USD: Euro pulled back below its 500 EMA; resistance at 1.13610
What is going on now with EUR/USD?
EUR/USD: The Euro failed to continue at 1.14367 resistance as highlighted in yesterdays update and fell to 1.14155 support. The pair attempted to head back up during the European session but failed at 1.14255 and triggered a sell-off, taking out three of my estimated short sell targets at 1.13960, 1.13810, and 1.13610.
Our forecast
EUR/USD: The Euro has fallen below its 500 EMA and 1.13610 in the 60 minutes price chart and currently trades at 1.13535. The pair needs to break and remain above 1.13160 to head back to the upside. The Euro could continue down to 1.13270 if it fails to hold at 1.13430 and 1.13185.
Support/short - 1.13430, 1.13270,1.13185, and1.13065
Resistance/Long - 1.13610, 1.13810, 1.13960,and 1.14155
Chart 1: The short-term view of the EUR/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the EUR/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
We explain the market movements and its potential next move to help and guide you to possibly make the right decision on when to enter, apply to stop losses to protect your capital, take profit and exit your position.
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.