EUR/USD is trading 0.38% lower as the US dollar strengthens on Friday. US President Trump is dominating the theme after contracting COVID-19. EUR/USD Price Analysis EUR/USD has pushed lower on Friday after bouncing off the resistance zone at 1.1769 on Thursday lunchtime. Overnight the dollar strengthened after the news hit the wires that US President Donald Trump contracted the coronavirus. His opposition leader Joe Biden is also being tested as the pair were pretty close at the leader’s debate on Tuesday night. Looking at the chart, the price has now moved lower towards 1.17. The resistance marked in red was strong and also confluenced with the 38.2% Fibonacci retracement zone. If the price does close lower than 1.17 by the close it could lead to lower levels being targeted next week and the wave low close to 1.1625 could be the next target. The indicators have also turned bearish. The MACD histogram is now red but the lagging signal lines are yet to break the mid-zone. The Relative Strength Index has just about to crossed the 50 line to the downside which could also indicate more selling pressure is on the horizon. Overall, the price has broken the consolidation to the downside and now retested the consolidation low. This means there has been some consecutive lower highs and lower lows. The last month’s candle close was also bearish and managed to close below the August real body and this is yet another bearish technical sign. Additional 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. View All Post By FX Street FXStreet News share Read Next Canada: Labor market report to show the lowest gain in five months – RBC FX Street 2 years EUR/USD is trading 0.38% lower as the US dollar strengthens on Friday. US President Trump is dominating the theme after contracting COVID-19. EUR/USD Price Analysis EUR/USD has pushed lower on Friday after bouncing off the resistance zone at 1.1769 on Thursday lunchtime. Overnight the dollar strengthened after the news hit the wires that US President Donald Trump contracted the coronavirus. His opposition leader Joe Biden is also being tested as the pair were pretty close at the leader's debate on Tuesday night. Looking at the chart, the price has now moved lower towards 1.17. The resistance marked in red was… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
