- Analytics
- News and Tools
- Market News
- EUR/USD Price Analysis: Further downside still in the pipeline
EUR/USD Price Analysis: Further downside still in the pipeline
- EUR/USD struggles for direction near 2021 lows.
- A breach of 1.1432 exposes a move to 1.1422 near term.
EUR/USD remains under heavy pressure and looks to regain some composure in the 1.1440 zone at the beginning of the week.
The continuation of the downtrend appears favoured in the short-term horizon. Against this, and if the pair clears the YTD low at 1.1432, the focus of attention is expected to quickly gyrate to the June 2020 high at 1.1422 (June 10).
In the meantime, extra losses remain on the cards as long as the pair trades below the immediate resistance line (off September’s high) today near 1.1620. In the longer run, the negative outlook persists while below the 200-day SMA, today at 1.1874.
EUR/USD daily chart
© 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
