The single European currency had an attempt to continue the bullish action from the past trading week on early Monday. However, things changed completely right on the European open.
Four active trading cycles were noticed on the hourly timeframe (see the chart below), each of them started with Stochastic RSI charting the bullish crossover and coming off the oversold territory.
The hourly chart below is divided into two parts. The initial phase of the trading week came along with the dominance of put options for EUR/USD. The crucial resistance range is at 1.1048/64, while
Although EUR/USD printed the lowest daily close rate at 1.08986 on September 30 and tested the lowest year-to-date rate at 1.08792 on October 1, the pair charted a bullish reversal on intraday time
The most popular currency pair kept sliding this past week on the back of consistent demand for put options across the board. The long-term analysis points
Despite the long-term technical sentiment which helped to identify the general direction of the trend, the intraday price action was not so clear and obvious. The bulls were fighting for crucial
EUR/USD was vulnerable to fundamental influence this past week as European Central Bank gathered for the interest rate decision and economic statement.
Euro kept declining versus the U.S. dollar at the beginning of the past trading week as the demand for put options from the previous period continued weighing on the exchange rate.
On August 23, Euro’s downtrend was stopped above the support level at 1.1055, and EUR/USD retraced on the back of strong demand for call options. Some of the binary options traders were considering
The bears failed to push EUR/USD below recent bottom at 1.1050. The bulls used that weakness as an opportunity to buy call options and lifted the pair back above 1.1140.
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