Euro Faces Difficulties Against Brexit Woes and Trade War
The Euro has faced some obstacles recently. The uncertainty of the state of Brexit has placed the currency in a state of volatility. Adding to its woes are concerns over the ongoing trade war.
EURUSD appears to be attempting a bullish turnaround, but we don't have much confirmation. Use caution when trading this product.
The current price of EURUSD is 1.1580.
Levels from above include:
1.1733 from highs and lows over the past 14 periods
1.1838 from highs and lows
We will find support from levels from below including the following:
1.1303 from highs and lows over the past 14 periods
Some intraday levels to take into consideration include:
1.1533
1.1571
1.1597
1.1629
1.1668
1.1716
As for Technical Analysis we have the following. Volatility is slightly lower than usual, but may narrow further before a breakout. The RSI is 52, indicating that we are in a bull trend, but not yet overbought. The MACD is above the signal line, but not to an extreme. This suggests we may have more room to appreciate. EURUSD is above the 50 period SMA, indicating some bullishness. The ADX indicator, 8 confirms that EURUSD is ranging, that is, no significant trend is observed.
We are above the central moving average of the Kovach Reversals Indicator at 1.15, and fairly close to it. If we can gain some momentum, the upper bound of the KRI indicator at 1.18 will provide resistance.
Daily scores: Bull Score: 3 Bear Score: 0 Ranging Score: 2
Lets look at some technical analysis for EURUSD intraday. Volatility is slightly higher than usual, but not to an extreme. The RSI is 48, which suggests that we are in a bear trend, but not oversold. The MACD is above the signal line, but not by too much, suggesting that we are in a bull trend which may continue. The 50 period SMA indicates that we are in a bear trend. Additionally, EURUSD intraday is under the 100 period SMA, which is currently at 1.16, indicating bearishness. Finally, the SMA(50) is roughly equal to the SMA(100), suggesting ranging. The ADX indicator, 22 confirms that EURUSD intraday is ranging, that is, no significant trend is observed.
Currently, EURUSD intraday is near the central moving average of the Kovach Reversals Indicator, which sits at about 1.16. It still has some room between current prices and the lower bound of this indicator at 1.15, which will provide support.
Intraday scores: Bull Score: 1 Bear Score: 3 Ranging Score: 3
EURUSD appears to be attempting a bullish turnaround, but we don't have much confirmation. Use caution when trading this product.
The current price of EURUSD is 1.1580.
Levels from above include:
1.1733 from highs and lows over the past 14 periods
1.1838 from highs and lows
We will find support from levels from below including the following:
1.1303 from highs and lows over the past 14 periods
Some intraday levels to take into consideration include:
1.1533
1.1571
1.1597
1.1629
1.1668
1.1716
As for Technical Analysis we have the following. Volatility is slightly lower than usual, but may narrow further before a breakout. The RSI is 52, indicating that we are in a bull trend, but not yet overbought. The MACD is above the signal line, but not to an extreme. This suggests we may have more room to appreciate. EURUSD is above the 50 period SMA, indicating some bullishness. The ADX indicator, 8 confirms that EURUSD is ranging, that is, no significant trend is observed.
We are above the central moving average of the Kovach Reversals Indicator at 1.15, and fairly close to it. If we can gain some momentum, the upper bound of the KRI indicator at 1.18 will provide resistance.
Daily scores: Bull Score: 3 Bear Score: 0 Ranging Score: 2
Lets look at some technical analysis for EURUSD intraday. Volatility is slightly higher than usual, but not to an extreme. The RSI is 48, which suggests that we are in a bear trend, but not oversold. The MACD is above the signal line, but not by too much, suggesting that we are in a bull trend which may continue. The 50 period SMA indicates that we are in a bear trend. Additionally, EURUSD intraday is under the 100 period SMA, which is currently at 1.16, indicating bearishness. Finally, the SMA(50) is roughly equal to the SMA(100), suggesting ranging. The ADX indicator, 22 confirms that EURUSD intraday is ranging, that is, no significant trend is observed.
Currently, EURUSD intraday is near the central moving average of the Kovach Reversals Indicator, which sits at about 1.16. It still has some room between current prices and the lower bound of this indicator at 1.15, which will provide support.
Intraday scores: Bull Score: 1 Bear Score: 3 Ranging Score: 3
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