- Analytics
- News and Tools
- Market News
- EUR/USD needs to overcome the 1.1360 hurdle to see further gains
EUR/USD needs to overcome the 1.1360 hurdle to see further gains
EUR/USD has climbed back above 1.1300 after falling sharply to mid-1.1200s late Tuesday. The pair needs to claim 1.1360 to extend recovery, according to FXStreet’s Eren Sengezer.
Key resistance seems to have formed around 1.1360
“Powell will testify before the House Financial Services Committee later in the day and he is unlikely to change his tone regarding the policy outlook. Although the dollar could show resilience against its rivals on hawkish policy outlook, the fact that the US Dollar Index retreated sharply following the initial upsurge suggests that EUR/USD's losses are likely to remain limited.”
“Strong resistance seems to have formed around 1.1360, where the Fibonacci 38.2% retracement of November's downtrend meets the 100-period SMA. In case buyers manage to flip that level into support, additional gains toward 1.1400 (Fibonacci 50% retracement) and 1.1450 (Fibonacci 61.8% retracement) could be witnessed.”
“1.1300/1.1290 (psychological level, Fibonacci 23.6% retracement, 20-period SMA) aligns as initial support before 1.1260 (50-period SMA) and 1.1235 (Tuesday low).”
© 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
