Connect with us

Hi, what are you looking for?

Economy

Unraveling the Euro Index: Resistance at 1036.7 Today

Unraveling the Euro Index: Resistance at 1036.7 Today

During the Asian trading session, the Euro index encounters resistance at the 1036.7 level.
On Friday, the yen index fell to the 752.2 support level.

Euro index chart analysis

During the Asian trading session, the Euro index encounters resistance at the 1036.7 level. After the consolidation above 1036.0 levels, a strong bearish impulse occurred at the start of the EU session, which brought us down to 1033.8 levels. Additional pressure is exerted by the EMA200, which is now on the bearish side. This could influence us to see a deeper pullback in the euro index. Potential low targets are 1033.0 and 1032.0 levels.

If the index consolidates and stops this pullback, it could start a recovery and move back above the 1035.0 level. It would again receive support from the EMA200 moving average, improving the euro’s picture for growth to previous higher levels. Potential higher targets are 1036.0 and 1037.0 levels. Moving the euro index above 1037.00 means we would get out of the previous two-week support zone.

Yen index chart analysis

On Friday, the yen index fell to the 752.2 support level. After the check, we managed to get support and start a recovery during the previous Asian trading session. The positive consolidation took us up to the 755.2 level, and we expect to see continued growth by the end of the day while we are still in the surge. Potential higher targets are 756.0 and 757.0 levels.

We will have additional pressure in the EMA200 moving average in the zone of 757.0 levels. We need a negative consolidation and pullback below the 754.0 level for a bearish option. Thus, we would form a lower high and again face this morning’s support zone. Potential lower targets are 753.0 and 752.0 levels.

The post Unraveling the Euro Index: Resistance at 1036.7 Today appeared first on FinanceBrokerage.

Click to comment

Leave a Reply

Your email address will not be published.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

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Enhancing and Broadening Managed Connectivity Solutions Across the Americas. OptConnect, a longtime leader in managed wireless services, today announced it has acquired Latin America-based...

    Editor's Pick

    CSL, Critical IoT Connectivity experts, announce the launch of CSL Satellite. CSL Satellite provides Critical Connectivity to remote or challenging environments, where mobile or...

    Stock

    Honda said on Tuesday it was recalling 750,000 vehicles in the United States over a defect involving air bags which could deploy unintentionally during...

    Stock

    Cruise, the driverless car company owned by General Motors is back in the spotlight after another close call with a pedestrian. The California DMV...

    Disclaimer: Financetimereport.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Financetimereport.com