analysis
EURUSD
17.01.2024
Buyers and sellers continue to fight
EURUSD fell to new lows and tested its 200-day moving average at 1.08462.
Buyers flocked to that level on the first test, pushing the price up a bit.
As mentioned in previous videos this week, the 1.08788 – 1.0894 zone represents a key swing zone that was broken during yesterday's trading and remains broken.
This is currently resistance and a risk-defining level for sellers looking for further downside in the future.
So buyers and sellers continue to struggle between lower support against the 200-day moving average and higher resistance against a key swing zone.
EURUSD
17.01.2024
Buyers and sellers continue to fight
EURUSD fell to new lows and tested its 200-day moving average at 1.08462.
Buyers flocked to that level on the first test, pushing the price up a bit.
As mentioned in previous videos this week, the 1.08788 – 1.0894 zone represents a key swing zone that was broken during yesterday's trading and remains broken.
This is currently resistance and a risk-defining level for sellers looking for further downside in the future.
So buyers and sellers continue to struggle between lower support against the 200-day moving average and higher resistance against a key swing zone.