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EURUSD SIGNAL 04-04-2022 : EURUSD creates bullish correction in the short term above 1.1000

EURUSD SIGNAL

EURUSD SIGNAL 04-04-2022 : EURUSD creates bullish correction in the short term above 1.1000

EURUSD SIGNAL : EURUSD is showing some positive signs in the short term after the rebound off the 22-month low of 1.0805. 
Currently, the market is consolidating within the 20- and 40-day simple moving averages (SMAs), while the technical indicators are suggesting more upside movements. The RSI is trying to overcome the neutral threshold of 50 and the MACD is strengthening its positive momentum above its trigger line in the negative region.

If the market manages to pick up speed, the 40-day (SMA) at 1.1113 could offer nearby resistance ahead of the 1.1185 resistance level. A significant-close above the latter, the next obstacle could come from the descending trend line around 1.1220, while more increases would raise chances for an up-trending market. In this case, prices could climb towards the 1.1275 barriers.

Should prices decline, immediate support could be found around the 20-day SMA at 1.1016 from October to December. Then a leg below that level, the pair could meet the 1.0940 support before tumbling to the 22-month low of 1.0805.

EURUSD SIGNAL : In the long term, the outlook remains negative since prices hold below the descending trend line. However, in the short-term picture, EURUSD is creating a bullish correction.

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FIRST CAPITALS brand is authorized and regulated in various jurisdictions.

First Capitals Limited (www.First Capitals.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

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Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FIRST CAPITALS brand based on the legal requirements in his/her country of residence.  Please read FIRST CAPITALS’s full Risk Disclosure.

Regional restrictions: FIRST CAPITALS brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus and Hong Kong. Find out more in the Regulations section of our FAQs.

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