The euro retreated as short-term traders took profit. After a six-week-long consolidation, the euro soared above the supply area at 1.1380 and forced the bears to cover in mass. As the dust settles, a bearish RSI divergence showed a lack of follow-up momentum. The current pullback is heading towards the origin of the breakout near […]
The post EUR/USD Seeks Support appeared first on Action Forex.
In focus today In the euro area, focus turns to inflation data for Germany and Spain which we receive ahead of the euro area data tomorrow. We expect euro area headline inflation to rise to Read more…
Appetite on Wednesday was limited on both sides of the Atlantic Ocean. In the US, the crowded economic data came in mostly in line with expectations, confirming that the US economy grew 2.8% in Q3 Read more…
Daily Pivots: (S1) 1.0428; (P) 1.0486; (R1) 1.0548; More… Intraday bias in EUR/USD remains neutral and further decline is expected with 1.0609 resistance intact. On the downside, break of 1.0330 will resume the fall from Read more…