EUR/USD continues to carry the road, attracts in key near-term stage

And with a slight nudge up immediately, value is testing the 100-hour shifting common (purple line) once more. The important thing near-term stage is seen at 1.0571 at present. Maintain beneath that and sellers will proceed to maintain a extra bearish bias. However break above, and the near-term bias turns extra impartial as a substitute.

That marks the important thing near-term stage to be careful for within the pair to start out the week. The important thing draw back assist stage stays the identical one as we noticed final week, that being the 1.0500 mark – particularly on the weekly chart.

The following few days will not characteristic an excessive amount of on the financial calendar for each the US and Eurozone. It’s only on Friday the place the financial calendar begins to get extra attention-grabbing with PMI knowledge again in focus.

As such, central financial institution audio system may be the one factor to be careful for in between every now and then. In any other case, it is all about whether or not the post-election momentum can sustain. Or are we going to see a pullback to that this week?

The technical hints such because the one above will present clues in figuring out the market sentiment we’ll be working with.

This text was written by Justin Low at www.ubaidahsan.com.



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