Decentralized Finance News – DEFI NEWS

DeFi News updated several times a week, DeFi, GameFi, Metaverse, NFT news. Actualité de la finance décentralisée , #crypto #NFT #Metaverse

Decentralized Forex with EUR/USD, without broker, the analysis of the moment

Août 3, 2022
Vous aimez, partagez-le à vos amis, merci!

4.86 (8750 votes)

Decentralized Forex Trading, without broker, the analysis of the moment. Discover the technical analysis of the moment for the EUR/USD.

Decentralized Forex Trading, what influences the price, what you should not ignore before starting to trade EUR/USD?

That’s what we’ll see a little later in this article, but let’s start with the basics.

Decentralized Forex Trading, basic information:

Here are the elements that can influence the price of this asset

1. The economic health of the Eurozone and the United States. Studying or having a good knowledge of the economic and financial data of these two zones is essential, including the data of their two respective central banks.

2. The geo-political situation, the most impactful current events that could be positive or negative for the economy and finances of these two zones.

3. The relationship between the two zones is also very important. Indeed, trade agreements or conflicts between these two zones can also influence the price of this currency pair.

4. The technical analysis, purely graphical, that offers the pair EUR / USD is also very important and this is what is proposed below

Technical analysis EUR/USD (daily)

Decentralized Forex Trading

Decentralized Forex Trading with EUR/USD, what is happening now?

We can see that for the first time in the last 20 years, the EUR/USD has reached parity. After reaching its annual low (1.0000) in July. The exchange rate could still be close to the December 2002 low (0.9859) as the rebound that could be expected when parity was reached remains weak.

The downward pressure remains strong although the parity area is strongly defended.

It is clear that we are not yet bullish, these are technical bounces and a psychological price and support that is strongly defended by buyers. This will therefore create volatility around the parity.

Decentralized Forex Trading with EUR/USD, summary of the technical analysis of the moment:

EUR/USD = 1.018 as I write this article.

Things to remember:

Pivot point: 1.02670

My preference: position below 1.02670

Alternative scenario: the 1.018 area can be an entry point to buy for a short term trade, it is possible once past this area to hope to go quickly to the first resistance located at 1.02670, then at 1.03790 and finally to the 1.048 area.

Attention, we are in full range, the chart above is clear: 1.00197 to 1.02669

The 20 moving average is still well below the 50, which remains very bearish, moreover the price is struggling to exceed the 20 average, it currently serves as a support for the price and it would be absolutely necessary for the rebound to take place from this level, otherwise we could quickly return to parity.

In the short term, the next objective is to move back towards the pivot zone at 1.048 – 1.050, which is also becoming an important resistance zone. A break of this threshold would allow the price to regain the 1.077 area However, it is still too early to suggest a bullish recovery, worse, the bearish scenario is currently strengthening.

On the downside, the 0.98 to 1.00 area could be considered again, this is the next major support, we have already tested it, but for now, this area is strongly defended, which is normal. This does not mean that it will not give way in the near future. Everything will depend on the announcements, on the events, and in this case, it is more a matter of fundamental analysis than technical.

Beware, if the 0.98 area clearly gives way, then it is possible that panic will set in on the market, as many positions taken earlier will be closed automatically, which could accelerate the decline.

Decentralized Forex trading, important information:

Trade Forex without a broker, without registration, in a 100% decentralized way, directly from your Metamask account

In the context of the hot defi news, it is important to specify that it is now possible to trade without brocker, in a totally decentralized way, in order to trade both Forex and cryptocurrencies, to learn more, discover now: this

decentralized leverage trading platform

gTrade: Forex


Vous aimez, partagez-le à vos amis, merci!

Christian Tornare

Trader, investor and creator of ecosystems with direct links to DeFi. Trader, investisseur et créateur d'écosystèmes en lien direct avec la DeFi.

You cannot copy content of this page