Home EUR/USD Price Analysis: A re-test to the 200-day SMA looks likely
FXStreet News

EUR/USD Price Analysis: A re-test to the 200-day SMA looks likely

FX Street
Updated:
  • EUR/USD rebounds from lows in the mid-1.1800s on Monday.
  • Further upside impulse could see the 200-day SMA re-visited.

EUR/USD manages to regain some composure following earlier lows in the 1.1850/45 band at the beginning of the week.

If the recovery gathers extra steam, then the door could open to a potential re-visit of the 200-day SMA at 1.1992. There is, however, a minor hurdle at a Fibo level at 1.1976.

The outlook for EUR/USD should shift to negative on a sustainable breakdown of the key 200-day SMA. Next weeks are expected to be crucial regarding this issue.  

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