EUR/USD Price Analysis: Euro trades in two-day’s highs above 1.0900 figure as Fed injects trillions of liquidity

 

 

EUR/USD is bouncing from the 1.0800 figure while trading below the main SMA (simple moving average) on the daily chart. The Fed announced it would inject $2.3 trillion in additional loans while US jobless claims were above 6.6 million, which was worse than expected. 

 

 

EUR/USD is in consolidation mode while trading below the 200 SMA suggesting a bearish bias in the medium term. However, this Thursday, the market had a spike to the upside as bears want to keep the spot below the 1.0973/1.1000 band. Sellers will be looking for a break below the 1.0900 level end route to the 1.0850 and 1.0800 levels on the way down, according to the Technical Confluences Indicator.