EURUSD – Trend Line Support Under Pressure Again

By Unknown

Sabtu, 18 Juni 2016

EURUSD – Trend Line Support Under Pressure Again

EURUSD has been under considerable pressure of late, driven by divergent monetary policies of the ECB and the Fed, which both considering acting December

the result was the pair falling from 1.15 to 1.09 in just a few weeks he seems to have found some support for the ascending trend line - low .. 13 March

Since find support here, the pair saw a minor correction, but is once again attempt to break lower, a move that would bring May and July low into consideration , around 1.08. This is a very important support level for the pair and a break of it could prompt another considerable move lower.

In this state, the continued trend line support to provide support for the pair, although there are signs that the bears have not given up. The most recent 4 hours candle is a very irregular, though smaller, marabuzo candle and the current is still to break through the line marabuzo.

Momentum appears to be growing as the pair is closing in on the trend line, which could not be said to the first request.

It is also noted that during the most recent rally or correction on Friday, the pair failed to move above Wednesday's highs, a sign that the bears are in control. That said, this could still be the case in a consolidation as well, although in many cases, consolidation would also bearish on.

As you can see in the order book of OANDA, open orders customer suggests 1.09 is a key level of interest and as the purchase orders are slightly more orders sale.

to get access to the order book OANDA and all our other trading tools, visit OANDA Forex Labs.

NB There is a lot of data to the US to be released and Federal Reserve policy makers talking between now and Friday could have a big impact on this pair. It is worthwhile to monitor the economic calendar so you know when these releases are due.

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