EUR/USD extends the move lower to the mid-1.2000s. Further downside faces the 55-day SMA at 1.2037. EUR/USD loses further momentum and visited the early December lows in the 1.2060/55 band, where some support appears to have emerged. The continuation of the downtrend carries the potential to challenge the psychological support at 1.20 the figure, although a move further south of this level is not favoured in the short-term horizon. Below 1.2000 is located a Fibo level at 1.1976. On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1602. Looking at the monthly chart, the (solid) breakout of the 2008-2020 line is a big bullish event and should underpin the continuation of the current trend in the longer run. 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. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: XAU/USD clings to modest recovery gains, lacks follow-through FX Street 2 years EUR/USD extends the move lower to the mid-1.2000s. Further downside faces the 55-day SMA at 1.2037. EUR/USD loses further momentum and visited the early December lows in the 1.2060/55 band, where some support appears to have emerged. The continuation of the downtrend carries the potential to challenge the psychological support at 1.20 the figure, although a move further south of this level is not favoured in the short-term horizon. Below 1.2000 is located a Fibo level at 1.1976. On the broader picture, the constructive stance in EUR/USD remains unchanged while above the critical 200-day SMA, today at 1.1602. Looking at… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
