OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD: The picture is improving

EUR/USD Wednesday's four-hour chart is painting a positive development. Yohay Elam, an analyst at FXStreet, takes a look at the EUR/USD pair technical picture.

Key quotes

“Momentum on the four-hour chart has turned to the upside, a positive development, yet EUR/USD still trades below the 50, 100, and 200 Simple Moving Averages. The picture is improving.”

“Resistance awaits at the daily high of 1.0840, the daily high, followed by 1.0880, Tuesday's peak, which also converges with the 50 SMA.”

“Support awaits at 1.0750, Tuesday's low, and then by the 2020 trough of 1.0640.”

 

PMIs: Collapse in global economic activity – BNP Paribas

The PMI indices published this week give an early insight into the scale of the economic shock from Covid-19, Guillaume Derrien from BNP Paribas infor
Read more Previous

Sweden Producer Price Index (MoM) registered at -0.6%, below expectations (0%) in February

Sweden Producer Price Index (MoM) registered at -0.6%, below expectations (0%) in February
Read more Next
Start livechat