The EUR/USD pair initially fell during the day on Wednesday, testing the 50-day exponential moving average. By doing so, looks as if we are going to try
The EUR/USD pair initially fell during the day on Wednesday, testing the 50-day exponential moving average. By doing so, looks as if we are going to try to reach towards 1.0750 level above, which I think is significant resistance. Alternately, if we can break down below the moving average, I think the market will continue to go lower. Keep in mind that the ECB has an interest rate announcement today, and more importantly a press conference. Ultimately, I don’t think much changes but because of this I will be watching the chart to discern the next move.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
