EURUSD dips to new lows and below the 50% midpoint for 2022

Technical Analysis

EURUSD

EURUSD pushes to a new low. Can it stay below the 50%?

The
 
 EURUSD 
is making a new day low and in the process is back below the 50% midpoint of the years trading range at 1.13075. The price is also below the 1.1300 level (reached a low of 1.12953 so far). The 50% midpoint will now be a close risk level for sellers.

So far the breaks below the 50% have failed today. The sellers have pushed but they have largely failed. The swing high in the current bar reached just above the retracement level, but moved back below. It is now or never. The current price is at 1.1300.

On more selling the 1.1280 level will be targeted, followed by the 61.8% retracement at 1.12634.

Articles You May Like

US November durable goods orders -1.1% vs -0.4% expected
Key Fed inflation measure shows 2.4% rate in November, lower than expected
Oil steady as markets weigh Fed rate cut expectations, Chinese demand
Oil prices rise in thin pre-holiday trade
Gold climbs after soft US inflation data; still set for weekly loss

Leave a Reply

Your email address will not be published. Required fields are marked *