- Analytics
- Market analysis
- Technical Analysis
- EUR/USD retreats from a one-month high
EUR/USD retreats from a one-month high
Today, the EUR/USD pair is mostly declining from 1.0695 to 1.0620, retreating from the one-month high and losing some of the positions gained yesterday. On the hourly chart, the pair remains above the MA (200) H1 moving average line (1.0570) and on the four-hour chart slightly above the MA (200) H4 (1.0610). Technically speaking, the strong support level at 1.0565 may keep prices from further declines. In case of its breakdown, the pair may fall to 1.0520. The upper boundary of 1.0695 represents a strong resistance level. The most probable range of the pair's movement for today may be hidden within the existing range of 1.0565-1.0695.
⦁ Resistance levels are: 1.0640, 1 0695, 1.0740
⦁ Support levels are: 1.0565-70, 1.0520, 1.0480-95
The main scenario for the pair suggests a break of the support 1.0565-70 (Oct 20 low, H1 MA (200)) and a possible decline to 1.0520 (Oct 18 low).
The alternative scenario implies a rise to the session high of 1.0695 and then maybe to 1.0740 (Sept 20 high).
© 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
