- Analytics
- News and Tools
- Market News
- EUR/USD has the 1.0341 low of 2017 in its crosshairs – Credit Suisse
EUR/USD has the 1.0341 low of 2017 in its crosshairs – Credit Suisse
How low for EUR/USD? After tumbling to its lowest level in more than five years, analysts at Credit Suisse expect the world’s most popular currency pair to extend its slide towards the 1.0485/1.0341 zone.
Direct break below 1.0341 to open up parity
“Below the 1.0635 low of 2020, we see potential channel support from the 2016 high at 1.0485 next, then the 1.0341 low of 2017. Our bias, for now, would be to look for a low in this 1.0485/1.0341 zone.”
“A direct break below 1.0341 would warn of a further acceleration in the downtrend, with support seen next at the 78.6% retracement of the entire 2000/2008 bull trend and psychological floor at 1.00/0.99. Big picture, we suspect this is where EUR/USD weakness eventually extends to.”
© 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
