#EURUSD @ 1.09320 stars to show more concerted signs of failure from the top of its five-month channel – Credit Suisse
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
We are starting to see signs of EUR weakness on a broad basis with EUR/USD strength stalling noticeably, economists at Credit Suisse report.
“EUR/USD looks to be seeing more definitive signs of rejecting resistance form the top of the shallow uptrend channel from the beginning of January, with daily and weekly momentum deteriorating sharply.”
“Below support at 1.0942 has set a near-term top and we look for a test of the 55-DMA at 1.0831, which ideally holds on a closing basis. Below though would warn of a potentially more important downturn and a test of support at 1.0540/1.0483.”
“Above 1.1097 though would suggest we can see one final leg higher to our 1.1185/1.1275 core target – the 61.8% retracement and March 2022 high. Our bias remains to look for an important top here.”
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
