Home EUR/USD Price Analysis: A surpass of 1.2100 exposes extra gains
FXStreet News

EUR/USD Price Analysis: A surpass of 1.2100 exposes extra gains

FX Street
Updated:
  • EUR/USD’s corrective downside meets support around 1.2000.
  • The resumption of the uptrend targets the 1.2100 level.

EUR/USD retreats further after climbing to as low as the 1.2080 region earlier in the week.

The current leg lower is deemed as temporary, with the resumption of the upside should target recent tops near 1.2080 ahead of the 1.2100 level.

A convincing break above the latter should expose the February highs around 1.2240 ahead of the 2021 peaks in the mid-1.2300s.

Above the 200-day SMA (1.1913) the stance for EUR/USD is predicted to remain positive.

EUR/USD daily chart

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024