- Analytics
- News and Tools
- Market News
- EUR/USD Price Analysis: Another drop to YTD lows is not ruled out
EUR/USD Price Analysis: Another drop to YTD lows is not ruled out
- EUR/USD corrects lower after advancing past 1.1300 on Friday.
- If the selling impulse accelerates, then the pair could retest 1.1186.
EUR/USD gives away part of the gains recorded on Friday’s strong rebound to the area further north of 1.1300 the figure.
If Friday’s top is not cleared in the very short term, then sellers could return to the market and force the pair to resume the downside. Against this, another visit to the 2021 low at 1.1186 (November 23) should not be ruled out yet.
The probability of further losses remains unchanged as long as EUR/USD trades below the 2-month resistance line (off September’s peak) near 1.1570. In the longer run, the offered stance in spot is expected to persist while below the 200-day SMA at 1.1831.
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
