Home EUR/USD Price Analysis: The 200-day SMA should hold the downside
FXStreet News

EUR/USD Price Analysis: The 200-day SMA should hold the downside

FX Street
Updated:
  • EUR/USD’s rapid move past 1.2000 met resistance near 1.2080.
  • Bouts of selling pressure are expected to be contained around 1.1910.

EUR/USD clinches fresh multi-week tops near 1.2080, although deflates to the negative ground afterwards.

The pair gained extra upside impulse after surpassing the 1.2050/64 band, where converge the 100-day SMA and a Fibo retracement (of the November-January rally).

Above the new peaks around 1.2080 comes in the interim hurdle at 1.2100 ahead of  the February highs around 1.2240.

Above the 200-day SMA (1.1910) the stance for EUR/USD is predicted to remain positive.

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