| Greg Michalowski of Forexlive.com takes a deep into the technicals defining the bias, risk and key targets for the EURUSD heading into the new trading week starting June 5, 2023. In the report, he looks at the daily chart and then drills into the hourly chart. Get your week started on the right foot by understanding what levels are key and in play for the EURUSD. . |
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We are in a new trading month and the EURUSD is trying to bounce despite strong US data
2023-06-01
ADP and claims not bad today ahead of the jobs report tomorrow.
The EURUSD has been trying to rebound on the 1st trading day of the new trading month. Yesterday on the last trading day of the month, the price of the EURUSD moved to a new month low for May before rebounding. That perhaps gave the dip buyers some encouragement today, but the pair still had trouble above its 100 hour moving average. The price has seen moves above the 100 hour moving average over the last 9 trading days, but with limited momentum. The higher – and moving lower – 200 hour moving average at 1.07373 has been elusive on rallies. In fact the price is not traded above that moving average since May 8. Getting above both the 100 hour moving average and 200 hour moving average is required to give the buyers more
NZDUSD down for the 4th day in a row. Extends through swing area and looks toward 50%..
2023-05-26
The NZDUSD has tumbled 3.6% this week with the last 4 trading days to the downside. That is the biggest move lower since September 19, 2022. What does the sharp fall do to the technical picture as the week comes to a close?
EURUSD moves below a key floor. Old floor is now the ceiling.
2023-05-25
The EURUSD closed near a floor level on the daily chart near 1.0750. In trading today, that level was breached with momentum. What was once the floor is now the ceiling. Stay below is more bearish.
GBPUSD sellers try to take more control in up and down day
2023-05-22
Dive into the latest GBPUSD analysis and discover a recurring pattern that spells opportunity for sellers. The failed attempts to surpass the 100-hour moving average (MA) have tilted the balance in favour of sellers, as long as the price remains below this critical MA level.
Additionally, the 4-hour chart unveils a significant test of the key 200-bar MA during Friday’s upward move, where eager sellers emerged. Keep a close watch on this MA level as it holds crucial importance for future price action. In
Join us as we analyze these key MA levels, uncover patterns, and discuss potential trading opportunities.
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