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The Trading View for EURUSD

Monday, March 5, 2018 11:53 AM GMT

Volatility is back in the markets as a trade war is potential to be spread around the globe. Trump announced tariffs on steel and aluminum imports and possible on EU-made cars. Also, Italy’ election is a great concern for EURUSD.

Reviewing the daily TF, the pair is trying to reclaim 21 EMA while Stochastics (8.3) is going overbought. MACD is close to bullish signal but it’s near to 0 level. If price closes above and validates 21 EMA and 5 EMA, this will offer a bullish boost to the pair.

Daily

Heading to the hourly TF, the pair bounced on 200 SMA which makes it a critical intraday support. If price closes below and validates 200 SMA, then the bias will turn to bearish. As long as the price stays above 1.231, the momentum is strongly positive. On the other hand, if EURUSD returns back 1.231 - 1.228 area, then we expect a sideways consolidation.

Hourly

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