Home EUR/USD Price Analysis: Euro extends to the downside as investors anticipate US economic stimulus
FXStreet News

EUR/USD Price Analysis: Euro extends to the downside as investors anticipate US economic stimulus

FX Street
Updated:
  • EUR/USD is correcting down sharply from the 2020 tops.
  • The level to beat for bears is the 1.1258/82 support zone.
 

EUR/USD daily chart 

 
EUR/USD is pulling back down from 2020 tops while trading above the main SMAs. The USD is up across the board as investors are anticipating a US economic stimulus.
  

EUR/USD four-hour chart

 
EUR/USD is retracing down while above the main SMAs. The correction could extend further on a break below the 1.1258/82 support zone and the spot could then be headed towards the 1.1235 and 1.1150 levels. Resistances can be found near the 1.1330 and 1.1365 levels, according to the Technical Confluences Indicator. 
 
 
Resistance: 1.1330, 1.1365, 1.1411
Support: 1.1258/82, 1.1235, 1.1150
 
 

Additional key levels

 

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