EURUSD (H4) : Technical and Fundamental Analysis (Bearish)
EURUSD (H4) : Technical and Fundamental Analysis (Bearish)
The previous 4-hour candle for EUR/USD closed below the 200-period Simple Moving Average (SMA), while the 4-hour chart's Relative Strength Index (RSI) indicator fell below 40.
The recent uptrend's Fibonacci 61.8% retracement, or 1.0800, is a crucial level of support for the EUR/USD pair. The next negative target might be 1.0750, or the Fibonacci 78.6% retracement, if the pair breaks below that level and establishes it as resistance.
Should 1.07657 hold as support, investors may decide to reduce their short positions in advance of the weekend, accouraging selling. In this case, the initial resistance might be observed between 1.08600 and around (the 200-period SMA and the Fibonacci 50% retracement), followed by 1.0860 (the Fibonacci 38.2% retracement) and 1.0890 (the 100-period SMA).
NOTE : 📬 COMMENT, ✅LIKE AND ☑️ FOLLOW. THIS CAN HELP ME TO ANALYSE THE MARKET MORE EFFICIENTLY FOR YOU.
The previous 4-hour candle for EUR/USD closed below the 200-period Simple Moving Average (SMA), while the 4-hour chart's Relative Strength Index (RSI) indicator fell below 40.
The recent uptrend's Fibonacci 61.8% retracement, or 1.0800, is a crucial level of support for the EUR/USD pair. The next negative target might be 1.0750, or the Fibonacci 78.6% retracement, if the pair breaks below that level and establishes it as resistance.
Should 1.07657 hold as support, investors may decide to reduce their short positions in advance of the weekend, accouraging selling. In this case, the initial resistance might be observed between 1.08600 and around (the 200-period SMA and the Fibonacci 50% retracement), followed by 1.0860 (the Fibonacci 38.2% retracement) and 1.0890 (the 100-period SMA).
NOTE : 📬 COMMENT, ✅LIKE AND ☑️ FOLLOW. THIS CAN HELP ME TO ANALYSE THE MARKET MORE EFFICIENTLY FOR YOU.
Transaction en cours:
Transaction en cours:
Following my streak
Transaction en cours
Transaction en cours
Transaction en cours
Trade fermée: cible de profit atteinte