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EURUSD retraces back from whence it came as volatile market conditions persist

EURUSD retraces back from whence it came as volatile market conditions persist

The EURUSD's break to the upside to the price above a swing area high at 1.0805 and up to a new high going back to April 22, but momentum cannot be sustained in the price has since rotated back to the downside. The swing area low and 61.8% retracement of the 2022 trading range comes in at 1.07468. The current prices at 1.0778. The low corrective price after reaching the high has reached 1.0751.

Looking at the hourly chart below, the price remains above its rising 100 are moving average... Read More

Posted: Jan 12 2023, 15:08
Author Name: forexlive
Views: 102513

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