Check out this week's pairs in focus- Forex Trading
had a slightly positive week, but at this point, it seems as if we are hanging around the 50-Week EMA, and then, of course, the market will have to pay close attention to the 1.08 level above. Underneath, the 1.06 level is offering support, so we have a short-term consolidation phase. However, this market is one to leave alone until we get through the week, as we have both the Federal Reserve and the European Central Bank making interest rate decisions within 24 hours of each other.
50 level underneath offering support and the $80 level above offering resistance.has had a slightly negative week, but it looks as if we have plenty of support underneath, especially near the ¥138 level. The ¥138 level was the previous resistance in the ascending triangle, and therefore, I think it makes sense that we would see “market memory” in this neighborhood.
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