EUR/USD approaches 1.0800

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The volatility that was caused by fundamental events is over, as candles are smaller and the rate appears to have established a direction. The EUR/USD has declined, and by mid-Friday it appeared to be heading to the 1.0800 mark.

If the 1.0800 provides enough support, the rate could encounter resistance in the 1.0840 or 1.0860 levels, before approaching the 1.0880 level and the combination of the 50 and 100-hour simple moving averages. Note taht the weekly S1 simple pivot points have been ignored. The round levels impact the pair.

A move below 1.0800 could look for support in round levels until the pair reaches the 1.0700 mark. The 1.0720, 1.0740 and 1.0760 have been acting as support and resistance. Note that the 1.0780 level has not been observed to act as strong impact level.
Back to articles

Actual Topics

Fri, 22 Mar 2024 11:43:43 GMT

GBP/USD is below 1.2590/1.2610

The central bank announcements are over. It is clear that the GBP weakness dominates, as the rate is declining. On Friday, the pair passed below the major zone at 1.2590/1.2610. Next target for the decline is the combination of the weekly S3 simple pivot point at 1.2547, the 1.2550 mark and the support zone at 1.2535/1.2540. The zone marks mid-February

Thu, 21 Mar 2024 13:22:28 GMT

GBP/USD reacts to central banks

The United States Federal Reserve announced its Federal Funds Rate. Markets expected the Fed to keep the base interest rate unchanged at 5.50%. The Fed has done exactly that. However, the US Dollar declined on the announcement, as the market participants must have seen this as a relief from possible rate hike. Namely, inflation has shown to be persistent

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.