Wednesday’s EUR/USD Intraday Snapshot (Trend, Levels, News, More)
Trend (short-term): UP Market Background (mid-term): WEAK Supply/Demand: Recent Demand @ 1.1468 Support (nearest): 1.14329 Resistance (nearest): 1.16215 Next Event: Consumer Confidence (0h 59m) Next High Impact Event: Main Refinancing Rate (1d 22h 44m) Volatility: REGULAR (-8% avg.) Daily Range (Expected): 1.1430 – 1.1499 / 68% of avg. daily range Completed
EUR/USD Intraday Snapshot
After yesterday’s correct prediction on the price movement, today we have an interesting situation also. The price is ranging with support at 1.14329 and so it got our attention. We already received one demand signal but the background is not clear yet. So it is recommended to check if the price goes down again near the resistance and we receive another signal (demand or low volume on down bars). The price might turn up to go again near 1.1500. Also, there is the possibility of a strong break of the support. If bears come with big volume might see a down trend and might start to look for short positions.