xtreamforex Posted March 27 Author Share Posted March 27 EUR/USD Approaches Key Support, Dollar Could Resume Losses EUR/USD started a downside correction from the 1.0930 level. It traded below a key bullish trend line with support at 1.0810 on the 4-hours chart. GBP/USD is consolidating gains above the 1.2200 support zone. USD/JPY extended losses below the 130.50 support zone. EUR/USD The Euro started a major increase above the 1.0750 resistance against the US dollar. EUR/USD even climbed above 1.0900 before it started a downside correction. Looking at the 4-hours chart, the pair traded as high as 1.0929 before it faced sellers. There was a drop below the 1.0850 and 1.0820 support levels. The pair even traded below a key bullish trend line with support at 1.0810. However, the pair is still above the 100 simple moving average (red, 4-hours) and the 200 simple moving average (green, 4-hours). On the downside, an immediate support is near the 1.0750. The next major support is near the 1.0720 level, below which there is a risk of a move towards the 100 simple moving average (red, 4-hours). Any more losses might open the doors for a fresh decline towards the 1.0520 level. Read More : Daily & Weekly Analysis On Xtreamforex Link to comment Share on other sites More sharing options...
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