EUR/USD ignores support levels

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

On the hourly chart the EUR/USD had made a big dip down to the 1.1170 level. During the move it revealed that the various technical support levels have only minor strength. Namely, they are not strong enough to keep the pair from falling.

Due to that reason it is expected that the rate could pass the combined support of the 100 and 200-hour simple moving averages. In that case the currency pair would decline afterwards to the 1.1160 level, as there is no technical support down to that level.

On the other hand, the currency exchange could continue to bounce around the 1.1200 level in sudden sharp moves both due to US trade politics and the psychological effect of the 1.1200 level.
Back to articles

Actual Topics

Wed, 08 May 2019 11:07:23 GMT

GBP/USD reached down to 1.3000

On Wednesday, the GBP/USD broke the support of the previously drawn ascending channel pattern and the combined technical support of the 200-hour simple moving average and a pivot point near 1.3030.  

Wed, 08 May 2019 08:59:26 GMT

NZD/USD decline after rate cuts

During the past 24 hours, the New Zealand Dollar has depreciated about 103 base points against the US Dollar. The decline was attributed to the New Zealand Central Bank.

Subscribe to "Fundamental Analysis" feed

Souscrire
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.