EUR / USD
New gains in early European trading on Thursday breaks through the broken 200DMA barrier again, offsetting so far negative signals from Wednesday’s strong upward rejection, which left a bearish daily candlestick with a long upper shadow and repeated failure to close above 200DMA.
The picture on the daily chart is slightly upbeat, but the signals are still mixed as the Fed is cautious about its policy and signals that no policy change or cutback in current bond purchases can be expected anytime soon, leading to a depreciation of the dollar and a new impetus to a single course. currency.
On the other hand, concerns about the Astra Zeneca vaccine continue to grow and so far have limited action.
Daily research shows increasing momentum, but stochastic overbought, while the 200DMA headwind persists as the 30DMA dip is on track to form a bearish 200DMA crossover and strengthen resistance.
Short-term action is expected to maintain a slight bullish tone above 20DMA (1.1846), but caution about a potential third failure on close above 200DM, which will increase the risk of a pullback.
Res: 1.1914; 1.1946; 1.1990; 1.2000.
How are you: 1.1860; 1.1846; 1.1812; 1.1798.