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EURUSD UPDATE 28 MARCH : EURUSD trades down and up and back down. 100 hour MA stalls the rally

EURUSD UPDATE

EURUSD UPDATE  28 MARC : EURUSD trades down and up and back down. 100 hour MA stalls the rally

100 hour MA stalls against the 200 hour MA at 1.0999

EURUSD UPDATE : EURUSD falls back toward lows for the day

After falling on a break above both the 100 and 200 hour MAs (see blue and green lines on the hourly chart above) on Friday and moving lower into the close, the  EURUSD  continued it’s move to the downside today breaking below the swing lows from last week between 1.0960 and 1.09649 in the process.

The low price extended to 1.09438 and bounced back to the upside and the aforementioned swing area. The buying did not stop until reaching its falling 100 hour moving average at 1.0999.

EURUSD UPDATE : The price has since moved back below the 1.0604-1.09649 area and is pushing back to the lows. A break below, would now target the 61.8% at 1.09318 and the lows from March 15 at 1.09253. The lows from March 11 and March 14 come in near the 1.0900 area.

If the sellers are to take more control, the best case scenario technically would be to sell against 1.09649 and don’t get above 50% at 1.0971 intraday. Move back above the 50% and you have to worry about another rotation to the upside.

It is the sellers turn to show they mean business to the downside

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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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