A classical Example of EMA Support and Resistance – EUR/USD
October 8, 2012 in Forex Analysis
A classical example of Exponential Moving Averages in their best of the acts. We are just posting a chart of 5-hourly EMA resistance today. The 5-hour EMA is the green line.
EUR/USD Hourly Chart
The price action indicates that a break of this resistance may be on the cards but even if that happens we would expect a resistance near 1.2995.