EURUSD returned to keep trading near 1.088 after dipping to 1.0776 on the ECB president Draghi's hint that "The ECB may reconsider its policy stance in March amid a deteriorating economic outlook and turmoil in global markets". After turning back to 1.088 area, The pair parameters are referring now to balanced situation having its daily RSI-14 nearly in the middle of neutral region reading now 51.178 and also its daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in the neutral region reading 65.057 leading to the upside its signal line which is reading now 49.208.
The pair is still below the trendline resistance extension from 1.3992 to 1.1712, after failing to rise above its daily SMA100 by facing experienced resistance at 1.0991. however it is still trying to keep existence above its daily SMA50.
The pair is now in its day number 10 of continued existence above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.0754.
Important levels: Daily SMA50 @ 1.0841, Daily SMA100 @ 1.0976 and Daily SMA200 @ 1.1054
S&R:
S1: 1.0776
S2: 1.0709
S3: 1.0519
R1: 1.0991
R2: 1.1058
R3: 1.1098
Have a good day
Walid Salah El din
Chief Tech Analyst of Trade-24
The pair is still below the trendline resistance extension from 1.3992 to 1.1712, after failing to rise above its daily SMA100 by facing experienced resistance at 1.0991. however it is still trying to keep existence above its daily SMA50.
The pair is now in its day number 10 of continued existence above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.0754.
Important levels: Daily SMA50 @ 1.0841, Daily SMA100 @ 1.0976 and Daily SMA200 @ 1.1054
S&R:
S1: 1.0776
S2: 1.0709
S3: 1.0519
R1: 1.0991
R2: 1.1058
R3: 1.1098
Have a good day
Walid Salah El din
Chief Tech Analyst of Trade-24
EURUSD resided again for trading near 1.088
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