- Analytics
- News and Tools
- Market News
- EUR/USD eyes a rebound towards the 1.1700 level – SocGen
EUR/USD eyes a rebound towards the 1.1700 level – SocGen
On Friday, EUR/USD did trade a new low for the year at 1.1514 but fought back and returned over 1.1550. The pair consolidates around this level and could see a leg higher towards the 1.1610 mark, then 1.1700, economists at Société Générale report.
Holding above 1.1495/1.1450 is crucial to see a rebound
“EUR/USD briefly violated the lows of October however formation of a daily Hammer candlestick denotes possibility of an initial bounce.”
“It is worth noting that the pair is not far away from potential support of 1.1495/1.1450 representing the peak of March 2020 and monthly Ichimoku cloud. Defending this zone can result in a rebound towards 1.1610 and the graphical levels of 1.1700. This would be a decisive resistance.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
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.
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.
Bank transfers
