Home EUR/USD Price Analysis: Extra weakness targets 1.1835
FXStreet News

EUR/USD Price Analysis: Extra weakness targets 1.1835

FX Street
Updated:
  • EUR/USD met support near the Fibo level around 1.1890.
  • Further down comes in the March 9 low at 1.1835.

EUR/US’s deep pullback met some contention just below 1.1900 the figure so far on Friday, clinching new 2-month lows.

The loss of the 200-day SMA (1.1991) does not bode well for spot and allows for the continuation of the leg lower. A deeper move could retest the March 9 low at 1.1835 ahead of the YTD lows in the 1.1700 neighbourhood (March 31).

On the broader view, the outlook for EUR/USD is forecast to remain on the negative side while below the 200-day SMA, today at 1.1991.

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