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EURUSD between rising daily cloud and 200SMA, ahead of ECB

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro is in descending from 1.1044 (200SMA), which resisted several attacks and offering significant barrier. The pair remains at the back foot and looks for retest of daily 10SMA that contained yesterday’s dip to 1.0946 and reinforces strong support at 1.0940 (hourly higher base / neckline of hourly Head & Shoulders pattern), break of which is needed to confirm reversal off 1.1056 high. Meantime, bulls may be disrupted by rising daily Ichimoku cloud, which so far limits downside

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