EUR/USD Choppy Session Continues – Quick Update on a Sell Signal

The EUR/USD pair is trading sideways between a narrow trading range of 1.1990 - 1.1890 level. The lack of volatility is primarily due to...

Written by: Arslan Butt • Monday, March 15, 2021 • 1 min read

• Last updated: Monday, March 15, 2021

The EUR/USD pair is trading sideways between a narrow trading range of 1.1990 and 1.1890 level. The lack of volatility is primarily due to the lack of market-moving economic events from the U.S. and European economies.

On the lower side, EUR/USD is likely to find support at 1.1899 level along with a resistance level of 1.1990. The 20 and 50 periods EMA are in support of a selling trend today.

On the lower side, a bearish breakout of the 1.1899 level can send the EUR/USD price towards the 1.1835 area. The MACD and RSI support a selling trend now; thus, we have opened a sell trade below the 1.1958 mark to target quick 40 pips. Good luck!

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.