OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD Price Analysis: Further downside seen below the 55-day SMA

  • EUR/USD is extending the correction lower from tops near 1.1100.
  • While below the 55-day SMA, the outlook on the pair remains negative.

EUR/USD broke below the 100-day SMA and the short-term support line in the 1.1070 region following Friday’s failed attempt to surpass the 55-day SMA near 1.1090.

Above this area, the downside pressure should alleviate and allow for a move to the more relevant 200-day SMA, today at 1.1125.

If sellers keep ruling the market, then the 1.1000/1.0990 region should return to the investors’ radar.

EUR/USD daily chart

 

US Dollar Index Price Analysis: Extends the upside above the 200-day SMA

DXY has fully faded Friday’s sharp pullback and is now re-focuing its attention to the key barrier at 98.00 the figure. Following the breakout of the
Read more Previous

USD/INR New York Price Forecast: Greenback challenging 71.20 support vs. rupee

The market is trading above the main weekly simple moving averages (SMAs). After the 2018 bull market, USD/INR has been consolidating in a rectangle formation.
Read more Next
Start livechat