- Analytics
- News and Tools
- Market News
- EUR/USD Price Analysis: The 1.0910 zone holds the downside for now
EUR/USD Price Analysis: The 1.0910 zone holds the downside for now
- EUR/USD reverses part of the weekly leg lower on Wednesday.
- Initial support emerges at the monthly low of 1.0912.
EUR/USD regains some composure and bounces to the 1.0990 region on Wednesday.
In case losses accelerate, spot should face interim contention at the 55-day and 100-day SMAs at 1.0930 and 1.0924, respectively, ahead of the so far August low at 1.0912 (August 3). In case the latter is breached on a sustainable way, the pair could embark on a move to the July low of 1.0833 (July 6).
In the meantime, while below the weekly high of 1.1149 (July 27), the pair risks further retracements for the time being.
Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0760.
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
