Today's session is again marked by strong falls in the indices, while the US dollar regains strength.
However, the EUR/USD pair has managed to hold firm to the USD rally, at least in the short term.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appDaily time frame chart.
Through the daily chart, we can see that the pair is starting to show signs of slowing down, despite the strong drops it has been registering over time.
In addition, we can see that we are facing several patterns - doji that signal some indecision in the market.
EUR/USD, Daily time frame chart. Source: xStation
4 Hours time frame chart
When we take a look at a lower time frame chart, like a 4-hour chart, we can see that the price remains sideways, however, the buyers have been able to keep the price under control near the support zone marked at 1.05.
In case the buyers manage to break above the upper limit of the range, the bullish move could extend even further.
On the other hand, if the sellers manage to break below the current range, then the dips could be prolonged.
4 hours-time frame chart. Source: xStation 5
During this session, JPY and USD leads the gains.
Source: currency-strength.com
Henrique Tomé, XTB Portugal
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
