OctaFX | OctaFX Forex Broker
Open trading account

EUR/USD: Door open to 1.15

EUR/USD has been trading with wild swings around the 14-month highs. Monday's four-hour chart is pointing to additional gains, as FXStreet’s analyst Yohay Elam notes.  

Key quotes

“EUR/USD is at overbought territory on the daily chart – with the Relative Strength Index above 70.” 

“Other indicators are positive, with momentum pointing up. The pair also trades above the 50, 100, and 200-day Simple Moving Averages.”

“Some resistance awaits at 1.1450, which capped EUR/USD in the spring of 2019. IT is followed by 1.1525 – above the 1.15 level – which was a high point in early 2019.” 

“Support awaits at 1.1410, a high point from the summer of 2019, followed by 1.1350, a peak from the same time.”


Germany: Reactive fiscal response to coronavirus – Danske Bank

German economy minister Altmaier laid out a three-phase-plan for Germany’s economic policy response to the coronavirus hit. Economists at Danske Bank
Read more Previous

Wall Street recovers modestly after trading resumes, energy and financials suffer heavy losses

Wall Street's main indexes plummetted after the opening bell and trading got halted for 15 minutes after the S&P 500 lost 7% in a quick fashion. With
Read more Next
Start livechat