EURUSD bulls have shown their strong strength by reaching resistance level, a breakout of resistance can influence bears to surrender for a while and bulls have opened road. For now, bulls still have better opportunities.
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EUR/USD Will Fall to it’s New 1.5000 Support Level
With the Bollinger Bands, Full Stochastics, StochRSI and RSI saying the same thing on the one day EUR/USD chart, it seems like that pair is due for a retracement after yesterday’s jump over the 1.5000 hurdle.
EUR, GBP and AUD Support and Resistance
As the market continues its sideways movement it is a good idea to keep cognizant of important key levels of S&R as well as the 50 SMA and 100 SMA. When markets move sideways for an extended period of time ensuing price action on a breach of major S&R or an MA can be quick, therefore you want to be in a position to execute.
U.S. Dollar Continues Slide to a New 7-Week Low Versus Yen
In Asian trading today, the U.S. Dollar fell to its lowest point in 7-weeks versus the Japanese Yen in Asian trading today. As reported at 1:53 p.m. (JST) in Tokyo, the U.S. Dollar slipped to 88.20 Yen, approaching the 88.01 Yen low of early October.
Japanese Yen Hits 14-Year Peak against Weakening U.S. Dollar
Investor speculation that Japan’s central bankers will permit the continued appreciation of the Japanese Yen led to that currency’s 14-year peak against the U.S. Dollar in trading in Asia.