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May 22 - 07:24 AM

EUR/USD - Bye Bye EUR/USD Barriers; Hello More Resistance

By Jeremy Boulton  —  May 21 - 07:55 AM
  • EUR/USD 1.1000 options are knocked out

  • Pair reaches 1.1005 but traders encounter more resistance and few stops

  • This shouldn't surprise anyone

  • Traders are long. There's lots of resistance and likely more barriers

  • 200-DMA 1.1015, it usually pays to counter initial moves against a 200-DMA

  • Two prior 1.1000 tests failed nearby in last two months nL1N2D30C1

  • Daily cloud top 1.1065. Levels between 1.1010-50 suit sellers


EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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