HomeContributorsTechnical AnalysisEUR/USD Outlook: Euro Is Consolidating After 2.5% Fall, The Downside Remains At...

EUR/USD Outlook: Euro Is Consolidating After 2.5% Fall, The Downside Remains At Risk While The Action Holds Below 10DMA

Consolidation follows 2.5% fall in past three days, contained by Fibo support at 1.1052 (61.8% of 1.0778/1.1494 ascend. Recovery attempts struggle to clear initial barrier at 1.1200, with limited upside action expected as long as pivotal barriers at 1.1221/32 (broken Fibo 38.2%/10DMA) cap. Solid supports lay at 1.1100/1.1052 zone (200/100/55DMA’s/Fibo 61.8%), with firm break here to spark fresh weakness below psychological 1.10 support. Daily studies are mixed and lack clearer signal for now, with corona virus headlines expected to remain as key market driver.

Res: 1.1221, 1.1232, 1.1273, 1.1333
Sup: 1.1152, 1.1136, 1.1100, 1.1052

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Featured Analysis

Learn Forex Trading