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EURUSD Technical Analysis: The up move was rejected in the 1.1180 region

ChuChu Rocket, Tue Oct 22, 2019 11:56 pm

mlawson71 wrote: Tue Oct 22, 2019 3:00 am EUR/USD found some resistance at 1.1180 and it has formed several spinning top candlesticks at that level on the four-hour time-frame, there may be a correction coming before a new move north.
Yes! I think it's going to resume the mega downtrend soon. What do you reckon will happen? :think:

EUR/USD Technical Analysis: The up move was rejected in the 1.1180 region


  • EUR/USD met some selling pressure in the 1.1180 region, or new 2-month peaks recorded at the beginning of the week. This area of resistance is also reinforced by a Fibo retracement of the 2017-2018 rally at 1.1186.
  • The near term bullish view, however, remains well in play while above the 55-day SMA in the mid-1.10s.
  • If the buying impetus picks up extra pace, then the critical 200-day SMA at 1.1206 should return to the radar.



Source: https://www.fxstreet.com/news/eur-usd-t ... 1910220927
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