- Analytics
- News and Tools
- Market News
- EUR/USD Price Analysis: Weakness expected to return below 1.1380
EUR/USD Price Analysis: Weakness expected to return below 1.1380
- EUR/USD alternates gains with losses in the low 1.1400s on Monday.
- Below the 4m line, the upside pressure could lose traction.
EUR/USD remains well supported in the 1.1400 neighbourhood following Friday’s strong retracement.
The inability of the pair to revisit the area of recent tops in the 1.1480/85 band (January 13/14) could spark fresh weakness in the near term. That said, below the 4m support line near 1.1380 the upside pressure should subside and sellers might return to the market and drag spot to, initially, the 55-day SMA, today at 1.1351.
The longer term negative outlook for EUR/USD is seen unchanged while below the key 200-day SMA at 1.1728.
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
