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The Federal Reserve really set the tone today, and saw most of the major currencies filling up their Average Daily Range quite rapidly. At current price, the EU looks to head higher here. Major topside barriers ahead are the daily and weekly resistance pivot levels along with weekly/daily ADRs HI sitting pretty tight around 1.13 which should show some strong offers around there. To further the bullish case, we are now above all (daily, weekly, and monthly) central pivots along with being above all of the 10/20/50/100/200 Daily EMAs and so we are potentially looking at the beginning of a larger move higher in play if we don't show signs of an intraday reversal, which we suspect not.
We appreciate all of your comments, likes, and follows as that motivates us to continue in sharing and elaborating on our opinions.
The Federal Reserve really set the tone today, and saw most of the major currencies filling up their Average Daily Range quite rapidly. At current price, the EU looks to head higher here. Major topside barriers ahead are the daily and weekly resistance pivot levels along with weekly/daily ADRs HI sitting pretty tight around 1.13 which should show some strong offers around there. To further the bullish case, we are now above all (daily, weekly, and monthly) central pivots along with being above all of the 10/20/50/100/200 Daily EMAs and so we are potentially looking at the beginning of a larger move higher in play if we don't show signs of an intraday reversal, which we suspect not.
