OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD Price Analysis: The decline now looks to the 55-day SMA

  • EUR/USD remains under pressure and approaches the 200-day SMA.
  • Further south emerges the 55-day SMA in the 1.1060 area.

EUR/USD remains well on the defensive so far this week and is now trading at shouting distance from the critical 200-day SMA in the 1.1100 zone.

Another break below this level should accelerate losses to the 55-day SMA in the 1.1055/60 band.

Looking at the broader picture, the outlook on the spot stays bullish while above the 55-day SMA, today at 1.1057.

EUR/USD daily chart

 

Mexico Industrial Output (MoM) above forecasts (0.2%) in January: Actual (0.3%)

Mexico Industrial Output (MoM) above forecasts (0.2%) in January: Actual (0.3%)
Read more Previous

BoE minutes: Cutting bank rate further among options if more stimulus is needed

"Should the MPC need to provide further monetary stimulus, there are a number of options at its disposal, including cutting bank rate further, enlargi
Read more Next
Start livechat