EUR/USD finds support in SMA

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


EUR/USD currency exchange rate found support in the 100-hour simple moving average on Wednesday and began a recovery. By the middle of Thursday's trading, the pair continued to be pushed up by the 100-hour SMA.

In the near term future, the rate was expected to once again test the resistance of the 1.2080 level and the weekly R2 simple pivot point at 1.2075.

If the pair manages to pass these levels, the pair would most likely encounter resistance in the 1.2100 mark and afterwards the weekly R3 simple pivot point at 1.2156.

On the other hand, a hold out of the 1.2080 level would result in the rate's testing of the combined support of the 55 and 100-hour simple moving average and the weekly R1 simple pivot point near 1.2030. A failure of these levels could result in a decline to the support cluster near 1.2000.
Back to articles

Actual Topics

Thu, 22 Apr 2021 10:42:36 GMT

GBP/USD remains below SMA

During the first half of Thursday's European trading, the GBP/USD currency exchange rate remained below the resistance of the 55-hour simple moving average. In the meantime, it was spotted that the rate was finding support in the 1.3900 mark. In the case of the 1.3900 level failing to continue to provide support, the GBP/USD would most likely decline to the 1.3850

Thu, 22 Apr 2021 08:47:09 GMT

USD/CAD could bounce back

On Wednesday, the Bank of Canada made a rate statement, which created a long-unseen move. As a result, the US Dollar plunged by 170 pips or 1.36% against the Canadian Dollar.

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.