{"id":2289,"date":"2020-02-18T13:54:00","date_gmt":"2023-03-31T20:18:37","guid":{"rendered":""},"modified":"2024-05-28T07:55:01","modified_gmt":"2024-05-28T07:55:01","slug":"eurusd-still-consolidates","status":"publish","type":"post","link":"https:\/\/blog.zulutrade.com\/ar\/eurusd-still-consolidates\/","title":{"rendered":"EURUSD still consolidates&#8230;"},"content":{"rendered":"<p>Following up our <a href=\"http:\/\/bit.ly\/EURUSD_testing_major_support_area\" target=\"_blank\" rel=\"noopener\">yesterday&#8217;s blogpost<\/a>, EURUSD still consolidates on the marked support zone (S1) that Fibonacci levels are forming. Today we are not expecting major news, while later FOMC member Kashkari speaks but a decisive pair movement is rather unlike.<\/p>\n<p>Reviewing the daily chart, we added the oversold RSI which usually indicates a temporary bottom. However, RSI has remained excessively below 30 level which is not positive.<\/p>\n<p>Daily<\/p>\n<p><img decoding=\"async\" src=\"\/image.axd?picture=\/2020\/180220\/EURUSDDaily 1822020.png\" alt=\"\" width=\"500\" title=\"\"><\/p>\n<p>Heading to the hourly chart, the pair is forming a short-term wedge (W1) while RSI is flatting between 35 to 55 levels. MACD still gives positive divergence and indicates temporary bearish exhaustion. The price appears to be violating the falling channel (C1) but it&rsquo;s not a convincing breakout. It&#8217;s obvious that the market anticipates the next catalyst. Our yesterday&#8217;s scenarios are still valid.<\/p>\n<p>Hourly<\/p>\n<p><img decoding=\"async\" src=\"\/image.axd?picture=\/2020\/180220\/EURUSDH1 1822020.png\" alt=\"\" width=\"500\" title=\"\"><\/p>\n<p>Disclaimer<\/p>\n<p>The views expressed do not constitute investment or any other advice \/recommendation \/suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following up our yesterday&#8217;s blogpost, EURUSD still consolidates on the marked support zone (S1) that Fibonacci levels are forming. Today we are not expecting major news, while later FOMC member Kashkari speaks but a decisive pair movement is rather unlike. Reviewing the daily chart, we added the oversold RSI which usually indicates a temporary bottom. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2289","post","type-post","status-publish","format-standard","hentry","category-market-view"],"metadata":{"rank_math_internal_links_processed":["1"],"_edit_last":["4"],"rank_math_og_content_image":["a:2:{s:5:\"check\";s:32:\"216fd743ba7c85086284883c287268fc\";s:6:\"images\";a:2:{i:0;s:55:\"\/image.axd?picture=\/2020\/180220\/EURUSDDaily 1822020.png\";i:1;s:52:\"\/image.axd?picture=\/2020\/180220\/EURUSDH1 1822020.png\";}}"],"rank_math_analytic_object_id":["251"]},"pll_post_group":null,"_links":{"self":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/comments?post=2289"}],"version-history":[{"count":1,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2289\/revisions"}],"predecessor-version":[{"id":3903,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2289\/revisions\/3903"}],"wp:attachment":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/media?parent=2289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/categories?post=2289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/tags?post=2289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}