EUR/USD has broken lower this Wednesday, falling to a daily low of 1.1671, a fresh two-month low, and was last seen trading around 1.1690. The pair maintains its bearish bias as fears keep fueling dollar’s demand, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “The dollar’s appreciation continues amid concerns about global economic growth as a second wave of coronavirus hits Europe while the pandemic gives no sign of receding in the US.” “Later in the day, US Federal Reserve Chair Powell will testify on the economic impacts of COVID-19 before the House Select Committee.” “The 4-hour chart shows that attempts to recover ground are now being rejected by sellers around 1.1720.” “Technical indicators have barely corrected oversold readings before resuming their declines, reflecting strong selling interest. Meanwhile, the pair keeps developing below all of its moving averages, with the 20 SMA heading firmly lower below the larger ones.” 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 USD/TRY pushes higher to the 7.70 area, looks to CBRT FX Street 1 year EUR/USD has broken lower this Wednesday, falling to a daily low of 1.1671, a fresh two-month low, and was last seen trading around 1.1690. The pair maintains its bearish bias as fears keep fueling dollar’s demand, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “The dollar’s appreciation continues amid concerns about global economic growth as a second wave of coronavirus hits Europe while the pandemic gives no sign of receding in the US.” “Later in the day, US Federal Reserve Chair Powell will testify on the economic impacts of COVID-19 before the House Select Committee.” “The 4-hour chart shows that… Top 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.
