Technical outlook and ideas for Forex pairs
We have outlooked several promising Forex pairs and the result can surprise you!
EUR/USD pushed up from support
Information is not investment advice
The ECB cut the deposit rate yesterday and announced a new round of QE. Still, the euro has managed to recover from the news pretty quickly. EUR/USD spiked down to the September low in the 1.0930 but failed to stay there and closed around 1.1060 on Thursday. This kind of bottom means that if the pair overcomes the current resistance at 1.1090 (200-period MA on H4), the advance to 1.1130 (50-day MA) and potentially 1.1180 (100-day MA) will be triggered. Selling will become an option once again if the pair returns below 1.1020.
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