- Analytics
- News and Tools
- Market News
- EUR/USD to extend its correction if it manages to stabilize above 1.04
EUR/USD to extend its correction if it manages to stabilize above 1.04
EUR/USD has recovered modestly following Thursday's steep decline. The pair could extend its correction in case sellers give up on 1.04, FXStreet’s Eren Sengezer reports.
Euro to attract buyers if the 1.04 level is confirmed as support
“If Wall Street's main indexes open decisively higher and gather bullish momentum, EUR/USD could continue to erase its weekly losses.”
“The next recovery target is located at 1.0470 (static level, 20-period SMA) ahead of 1.05 (psychological level).”
“A four-hour close below 1.04 (psychological level) could be seen as a bearish development and open the door for additional losses toward 1.0370 (static level) and 1.0340 (January 3, 2017, 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
