- Analytics
- News and Tools
- Market News
- EUR/USD Price Analysis: Bears leave their foot print on daily candle
EUR/USD Price Analysis: Bears leave their foot print on daily candle
- EUR/USD in charge on the back of the daily bearish engulfing candle.
- There are prospects of a meanwhile correction as per the lower time frames.
EUR/USD is on the back foot for the start of the week following a strong offer on Friday as the US dollar firms around central bank themes and risk-off tones.
The following illustrates EUR/USD's technical outlook from a daily and hourly perspective.
EUR/USD daily chart
As per the daily chart, the price has penetrated the prior daily lows in a strong bearish engulfing candle. This leaves the bias with the bears on the way to a test of 1.12 the figure for the week ahead.
EUR/USD H1 chart
The euro's hourly chart sees the price in a strong downtrend also. However, there is scope for a meanwhile correction back to test above 1.1250 towards a 50% mean reversion that has a confluence with prior lows and previous support structure.
© 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
