OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD: : Bears remain in control

The world's most popular currency pair hit a 34-month low at 1.0820 and is attempting a recovery. Nevertheless, fundamentals and technicals are pointing lower in the opinion of Yohay Elam from FXStreet. 

Key quotes

“While the US is on holiday today – celebrating Presidents' Day – the German Bundesbank is set to provide an updated view on the economy in its monthly report, potentially adding pressure on the common currency. The central bank may provide comments on the coronavirus outbreak that has hit China.”

“The Relative Strength Index of the four-hour chart has risen above 30 – exiting oversold conditions – and allowing for fresh falls. Downside momentum is significant and the currency pair trades well below the 50, 100, and 200 Simple Moving Averages.” 

“Critical support awaits at 1.0820, which is the recent low and also the upper end of the ‘Macron Gap’.”

“The other side of the gap is 1.0770, followed by 1.0720.”

 

CFTC Positioning Report: EUR net shorts in multi-month highs

These are the main highlights of the CFTC Positioning Report for the week ended on February 11th. Speculators kept the negative view on EUR for yet an
Read more Previous

WTI consolidates the upside around $52.30 amid light trading

Having reached the highest level in three weeks at $52.63 in early Asia, WTI (oil futures on NYMEX) witnessed a wild ride before entering a consolidat
Read more Next
Start livechat