Euro Pulls Back From 50 Week EMA – EUR/USD Weekly Market Assessment
Euro Pulls Back From 50 Week EMA – EUR/USD Weekly Market Assessment. After establishing a couple of strong candlesticks on the weekly chart, the Euro pulled back a little throughout the week, indicating some trepidation. With that in mind, it appears like the Euro may be in some difficulty, but I believe it will only be a matter of time before we have to make a more significant move.
If we break below the 1.17 level now, I believe we will be looking at the 1.16 level. If we can turn around a breakout over the 1.19 level, though, we’ll be staring at the 1.20 handle. To put it another way, it will be normal choppy Euro trading that we have all experienced in our trading experiences .Euro Pulls Back From 50 Week EMA – EUR/USD Weekly Market Assessment. The question now is whether the double peak above was important, or whether it is merely a place that we will strive to reach in the future. It’s a bit early to make any choices at this point, but it appears that we’re attempting to take off.
Euro Pulls Back From 50 Week EMA – EUR/USD Weekly Market Assessment .Keep in mind that this is very certainly about the US dollar as much as it is about the Euro, so keep an eye on the Federal Reserve and its regular foolishness. Right now, it appears like the Federal Reserve will never do anything close to tightening monetary policy, which will almost certainly work against the value of the US dollar in the long run.