On the last trading day of the week, the dollar index limited its downward movements in the short term, allowing the EURUSD parity to suppress its rises. While preparing the analysis, the parity is traded close to the 1.1090 level.
When we examine the EURUSD parity from a technical point of view in short-term pricing, we follow the 1.1000 – 1.1050 region supported by the 34-period exponential moving average (1.1016). As the price moves above the 1.1000 – 1.1050 region, the positive expectation may come to the fore. If the uptrend continues, 1.1130 and 1.1165 levels may be encountered. At this stage, the stance of the 1.1130 level may answer the question of whether the uptrend will continue.
As the positive biased pricing is suppressed at 1.1130, pullbacks towards 1.1090 and 1.1050 levels can be observed. As long as possible declines are capped at the 1.1000 – 1.1050 region, new upswings can be observed from this region. Therefore, it may be necessary to see permanent pricing below the 1.1000 level in order for the negative expectation to come to the fore. In this case, 1.0960 and 1.0920 levels are noted as the levels that can be encountered.
In summary: As the EURUSD parity moves above the 1.1000 – 1.1050 region, the positive expectation may come to the fore.
Key Level(s) of the Day: 1,1000 – 1,1050 region