LATEST ARTICLES

EURUSD At Risk Of A Correction As The Rally Continues

Posted On 21 May 2020
By :
Comment: 0

eurusd

The euro currency is rising steadily, with a boost from a weaker US dollar.

Price action is, however, indicative that a correction could come in the near term.

At the time of writing, EURUSD is seen filling the gap from May 1st, 2020. The Stochastics oscillator is pointing to a hidden divergence.

This, along with the fact that the price level near 1.0885 – 1.0879 is not yet tested for support suggests a move lower.

A breakdown in the rally could see this level being tested once again. This is as long as EURUSD does not break past the 1.1000 level.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

Leave a Reply

*

[adrotate group="2"]
[adrotate group="15"]

InstaForex – Market Analysis

<a href="https://www.instaforex.com/">Forex Portal</a>

Like Us On Facebook

[adrotate banner= "75"]

Follow on Stocktwits

Follow Us on StockTwits

Connect

facebook
twitter
google-plus
youtube
linkedin
rss
Copyright © 2015 Forex Alchemy. All rights reserved.
Forexalchemy.com is made available as an online source of Foreign exchange trading information and related-materials only. By using ForexAlchemy you acknowledge and understand that we are not soliciting participation in Forex trading. You also acknowledge and agree that there are large potential risks associated with investment and trading activity and that you have accepted such risks before deciding to invest and before deciding to use ForexAlchemy as a source of trading-related information and materials. Please read our full disclaimer and terms of use before using this website:
Disclaimer & Terms of Use     Privacy Policy