EUR/USD drops below support

Source: Dukascopy Bank SA
The Thursday squeeze of the EUR/USD resulted in high volatility and a break out to the downside. By the middle of Friday's trading, the currency exchange rate had dropped below the support levels that are located from 1.1153 to 1.1141. 

The rate was set to continue the drop, as it had no technical support as low as the weekly S1 simple pivot point at 1.1102.

On the other hand, take into account that the recent drop occurred in a sharp angle. It is a signal that the rate is oversold and needs to consolidate. It could consolidate by trading sideways or retracing back up to the 200-hour SMA at 1.1141.
Back to articles

Actual Topics

Fri, 03 Jan 2020 11:22:08 GMT

GBP/USD continues to decline

The GBP/USD has continued to decline. By the middle of Friday's London trading hours, the pair reached the support of the 200-hour simple moving average at 1.3061. In theory, the rate had two possible scenarios. 

Fri, 03 Jan 2020 09:54:10 GMT

NZD/USD decline to continue

The New Zealand Dollar has been depreciating against the US Dollar since Thursday's trading session. The currency pair has declined by 84 basis points during the last 24 hours of trading.

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.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.