EURUSD still below the 100-day EMA, 1.0585 in sight
Hello traders, in the daily chart, EUR/USD is now below the 100-day
exponential moving average level. In addition, the price has also reversed
from the top of the price channel.
A combination of these two factors may limit the upside in EUR/USD. So,
as long as price stays below the key 1.0750 level, the oulook is negative
for EURUSD.
My trading plan in EUR/USD is to sell the rallies as long as price stays below
the 1.0750 level. Initial target would be set at 1.0580.
exponential moving average level. In addition, the price has also reversed
from the top of the price channel.
A combination of these two factors may limit the upside in EUR/USD. So,
as long as price stays below the key 1.0750 level, the oulook is negative
for EURUSD.
My trading plan in EUR/USD is to sell the rallies as long as price stays below
the 1.0750 level. Initial target would be set at 1.0580.
Comment:
Lack of volume has led to a narrow price range today, however the bias is tilted to the downside
Comment:
Seems like price might go above 1.07 again
Comment:
Price moves above 1.07. Placed a pending sell@1.0740
Comment:
CPI data will lead to volatility
Comment:
Placed a small sell@1.0726
