Market news
11.03.2021, 11:56

EUR/USD: Support from the 200-DMA at 1.1831 to hold for now - Credit Suisse

FXStreet reports that EUR/USD extends its defence of its rising 200-day moving average (DMA), currently seen at 1.1831 and the Credit Suisse analyst team sees scope for a deeper recovery from here still.

“EUR/USD extends its near-term recovery as expected after its fall to just ahead of our target of the rising 200-day average, currently seen at 1.1831. Although we see scope for recovery to extend further, this remains seen as a corrective bounce ahead of the risk turning lower again.” 

“Above 1.1933/47 should trigger a deeper intraday recovery to 1.1991, a price resistance, the 38.2% retracement of the fall from late February and 13-day exponential average. We look for this to then ideally cap and for the risk to turn lower again. Above 1.1991 though would suggest can extend further to 1.2039/54.” 

“Support is seen at 1.1882 initially, with a break below 1.1852 needed to suggest the bounce is over for a retest of 1.1835/31."

© 2000-2021. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Feedback
Live Chat E-mail
Up
Choose your language / location