EUR/USD H4 Trades At Overhead Resistance

Russell Shor, CFTe, MFTA FXCM

The below is the H4 chart of the EURUSD. Price is trading at overhead resistance around the 1.1280 level. Moreover, the RSI(9) has moved above 80 into an overbought position. We note that the ECB meets tomorrow and that it’s possible that it will adopt a dovish stance and announce a loose monetary policy for a new cheap lending scheme. We continue to monitor.

Past performance is not an indicator of future results.

CHART SOURCE: FXCM MARKETSCOPE 2.0

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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