The Euro accelerated past 1.19 following FOMC minutes, before reversing back below the 1.1875 resistance earlier this morning. The momentum as measured by the Relative Strength Index (RSI) still looks strong, especially since Eurozone PMI prints yesterday showed a bounce in business activity adding to the optimism that the EU will have sufficient supplies to vaccinate at least 50% of its populations by June. But the EURUSD will have to close above the 200-Day SMA to follow through. Alternatively, a dip below the 50-period moving average around 1.1860 will trigger an acceleration to the downside ahead of the US jobless claims due later today.

Support: 1.1860 / 1.1820
Resistance: 1.1875  / 1.19

This analysis is just part of a greater daily market report on 8+ of the hottest instruments and assets provided to all SquaredFinancial clients.

Register for a live account and receive the daily report in full detail for free. 

Disclaimer: This information is only for educational purposes and is not an investment recommendation. The information here has been created by SquaredFinancial. All examples and analysis used herein are of the personal opinions of SquaredFinancial. All examples and analysis are intended for these purposes and should not be considered as specific investment advice. The risk of loss in trading securities, options, futures, and forex can be substantial. Customers must consider all relevant risk factors including their own personal financial situation before trading.