EURUSD breaks back below 100/200 hour MA

EURUSD fell after higher than expected CPI data. J

The price retraces towards the 1.0500 level but finds support against this level. There is a swing zone between 1.0505 and 1.05092 which is also being tested. The low has reached 1.05012 and is seeing some rebound. The current price is trading at 1.0518.

On the downside below the 1.0500 level:

  • The 1.04904 level was a low since last Monday/Tuesday and again on Thursday (see numbered red circles). This week the low reached 1.04945.
  • Last week’s low price was hit at 1.0482 on Friday, and
  • The lowest price for 2022 came on April 28 at 1.04703.

These are the downward steps for further selling pressure. Below these levels, EURUSD is trading at the lowest level since January 2017. The lowest price for 2017 – the 1st week of January this year – stood at 1.0339 for your guide. Breaking below this level would take the price to the lowest level since December 2002 and get traders talking in terms of the pair for the next key objective.

On the upside, the run down after the data pulled the price back below its converged 100 and 200 hourly moving averages at 1.0543. It would now need to move back above this level to harm the sellers’ bias.

Looking at the hourly chart, the price has been in an up and down trading range since April 27th. The low stands at 1.04703. The high reached last Thursday was at 1.0641. This high price stalled ahead of the 38.2% retracement of the decline from the April 21 high at 1.0648, maintaining the correction to a “regular vanilla variety”.

US action futures contracts

Futures contracts

A futures or futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specific time in the future. It should be noted that the parties do not know each other. These transactions generally involve commodities or other securities involving the buying and selling at a forward or predetermined price. Futures contracts also adhere to a delivery date, which specifies the date of delivery and payment. Compared to other forms of investing, futures contracts are much more complex, as they involve specified and non-flexible parameters. Futures contracts are traded on exchanges which act as a unified market for buyers and sellers. The buyers of contracts represent the holders of long positions, while the sellers represent the holders of short positions. Both parties risk their counterparty walking away if the price goes against them. As such, the contract may involve both parties incurring a margin of the value of the contract with a mutually trusted third party. This margin can vary significantly, depending on the current market volatility of the security being traded. Futures contracts can be incredibly risky. and are the classic definition of stock market speculation. A trader who predicts that the price of an asset will move in a certain direction can contract to buy or sell it in the future at a price. If this prediction is correct, the trader will profit from it. If the prediction is incorrect, there will be losses. Futures trading is considered an advanced type of trading that requires prior knowledge and understanding. For this reason, retail traders will rarely have access to futures trading through brokers without first going through specific questions or account requirements.

A futures or futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specific time in the future. It should be noted that the parties do not know each other. These transactions generally involve commodities or other securities involving the buying and selling at a forward or predetermined price. Futures contracts also adhere to a delivery date, which specifies the date of delivery and payment. Compared to other forms of investing, futures contracts are much more complex, as they involve specified and non-flexible parameters. Futures contracts are traded on exchanges which act as a unified market for buyers and sellers. The buyers of contracts represent the holders of long positions, while the sellers represent the holders of short positions. Both parties risk their counterparty walking away if the price goes against them. As such, the contract may involve both parties incurring a margin of the value of the contract with a mutually trusted third party. This margin can vary significantly, depending on the current market volatility of the security being traded. Futures contracts can be incredibly risky. and are the classic definition of stock market speculation. A trader who predicts that the price of an asset will move in a certain direction can contract to buy or sell it in the future at a price. If this prediction is correct, the trader will profit from it. If the prediction is incorrect, there will be losses. Futures trading is considered an advanced type of trading that requires prior knowledge and understanding. For this reason, retail traders will rarely have access to futures trading through brokers without first going through specific questions or account requirements.
Read this term have taken a step back from the report: they now involve

  • Dow -214 points
  • S&P -43 points
  • NASDAQ -221 points

The 10-year yield is now at a daily high near 3.064%, up 7.1 basis points. The 2-year yield is up 10 basis points to 2.723%. Yields are lower at the start of the New York session

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