Home EUR/USD Price Analysis: Scope for a test of 1.20 (and beyond)
FXStreet News

EUR/USD Price Analysis: Scope for a test of 1.20 (and beyond)

FX Street
Updated:
  • EUR/USD remains bid and approaches the 1.20 mark.
  • Further upside now looks to the YTD tops near 1.2020.

EUR/USD extends the upside for yet another session and gradually moves closer to the psychological hurdle at 1.20 the figure .

The continuation of the bull run initially targets the 1.20 mark. Further north comes in the 2020 high around 1.2020 (September 1) ahead of a minor hurdle near 1.2030, where sits a Fibo level of the 2017-2018 rally.

Looking at the broader scenario, extra gains in EUR/USD are likely while above the critical 200-day SMA, today at 1.1409.

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