Sasha Singh
0
All posts from Sasha Singh
Sasha Singh in Sasha Singh,

EURUSD : Still Within a Consolidation Triangle

(EURUSD : 4 Hour Chart)

EURUSD surged after the Fed statement but fell down from the resistance at 1.3637 at the 4 hour chart.

(EURUSD : Daily Chart)

The pair is currently trading above the 50 day and 100 day SMA showing some bullish sign however if looking at the daily chart the 50 day SMA has just crossed 100 day SMA to move down so the pair might continue to move down from 1.3637 but it will find support at 1.3586. Also seems like there is a falling resistance trend line which will pull the pair down. If the pair continued to move down breaking the support at 1.3586 the next support level it will find is at 1.3509. Overall the pair seems like consolidating within a descending triangle with a falling resistance trend line and a support at 1.309.