What to look for around EUR
The inability of the pair to clear the important resistance area in 1.1280/90 has encouraged sellers to return to the markets, triggering several tests of the 1.1200 handle, albeit failing to move further south. Further out, occasional bullish attempts should be seen as a short-lived against the backdrop of renewed and increasing speculations of another wave of monetary stimulus from the European Central Bank as early as this week’s meeting, including interest rate cuts, the resumption of the QE programme and potential changes in the forward guidance.
EUR/USD levels to watch
At the moment, the pair is advancing 0.01% at 1.1221 and a breakout of 1.1286 (high Jul.11) would target 1.1315 (200-day SMA) en route to 1.1412 (high Jun.25). On the flip side, immediate contention is located at 1.1193 (monthly low Jul.9) followed by 1.1181 (low Jun.18) and finally 1.1106 (2019 low May 23).
The inability of the pair to clear the important resistance area in 1.1280/90 has encouraged sellers to return to the markets, triggering several tests of the 1.1200 handle, albeit failing to move further south. Further out, occasional bullish attempts should be seen as a short-lived against the backdrop of renewed and increasing speculations of another wave of monetary stimulus from the European Central Bank as early as this week’s meeting, including interest rate cuts, the resumption of the QE programme and potential changes in the forward guidance.
EUR/USD levels to watch
At the moment, the pair is advancing 0.01% at 1.1221 and a breakout of 1.1286 (high Jul.11) would target 1.1315 (200-day SMA) en route to 1.1412 (high Jun.25). On the flip side, immediate contention is located at 1.1193 (monthly low Jul.9) followed by 1.1181 (low Jun.18) and finally 1.1106 (2019 low May 23).
Trade active
Comment:
approachign target faster than i thought
Trade closed: target reached
Comment:
some even got to reenter 1.234
