October 28, 2024 at 06:46AM
There is just one to really take note of on the day, as highlighted in bold.
That being for EUR/USD at the 1.0800 level. Alongside the 100-hour moving average nearby at 1.0802 currently, it is likely to keep a lid on price action in the session ahead. That especially with higher yields continuing to underpin the dollar in general to start the new week. But the range for the day is relatively narrow, so we might see some extension plays but arguably limited by the expiries above. If anything, the 200-hour moving average at 1.0827 will act as a “safety net” of sorts in limiting any outsized price extensions with little catalysts for the time being.
For more information on how to use this data, you may refer to this post here.
This article was written by Justin Low at www.forexlive.com.
