Home EUR/USD Price Analysis: The 1.1700 area looms closer
FXStreet News

EUR/USD Price Analysis: The 1.1700 area looms closer

FX Street
Updated:
  • EUR/USD intensifies the break below the 1.1800 support.
  • The next significant support lines up in the 1.1700 region.

EUR/USD drops to fresh 6-week lows around 1.1720 earlier on Tuesday, extending the leg lower for the third session in a row.

A deeper pullback remains on the cards and is expected to target the 1.1700 neighbourhood, where converge late August lows and a Fibo level (of the 2017-2018 rally).

Furthermore, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1226.

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