EURUSD falls to the next target at 1.09253
The EURUSD
EUR/USD
The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be
The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be
Read this Term see earlier post ). Those lows correspond with swing lows from March 15 (see red numbered circles). Below that, traders would target the 1.0899 level (call 1.0900). That is home to a swing lows from March 10 and March 11.
Earlier, the price stalled in a swing area between 1.09576 and 1.09675. The move below that level on Brainard's more hawkish comments open the door for downside momentum. The price also moved below the low from last week at 1.0944 (close risk for intraday traders now) and the 61.8% retracement of the move up from the March 7 low at 1.09499. Moving above those levels would spoil the downside breaks for the EURUSD and should see sellers turn to buyers.
Absent that, the sellers remain in full control.
