EUR/USD: Bulls vs Bears
October 27, 2021|The Forex Secret –We got some important releases this week, among them ECB Monetary Policy Statement and ECB Press Conference are the most influential tools through which ECB communicates with investors about interest rates and other economic conditions. There are some other important events like Annual Budget Release, BOC Monetary Policy Report and BOJ Outlook Report, which may have an impact on the pricing a little bit.
EUR/USD started the week with a bearish momentum. However, the bears don’t seem to hold the pressure for longer. In the picture above, we can see that the EUR/USD is currently trading below the dynamic 20 EMA and below the 1.1647 resistance level. If the daily candle closes above the 1.1615 key level the sell would be invalid. However, if the daily candle closes below the 1.1585 key level, it will alter the market condition and investors should focus on finding a sell.
What Can We Expect from the EUR/USD ?
As per the above findings, we can expect that the investors should focus on finding a sell below the 1.1585 closed candle. However, if the price moves up to the 1.1615 daily closed candle, investors should focus on finding a buy.