EUR/GBP passes five year low level

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


On June 23 in the year of 2016, the United Kingdom announced that it would leave the European Union. The event caused a major drop of the value of the Pound against the Euro. Since then, the EUR/USD pair had never traded below a support zone at 0.8250/0.8300. On March 3, the pair passed below this support zone.

The decline was attributed to an expected decline of demand for the Euro, which would be caused by the European Union cutting economic ties with Russia. Namely, as European companies leave the Russian market, the companies would not regularly exchange their profits in Rubles to Euro. Meanwhile, the Pound has less of a such exposure to the Russian market, and the Pound has not experienced such a drop.

If the rate continues to decline, it would look for support in the lower trend line of a channel down pattern and the 0.8200 mark. Further below, possible support might be provided by the round exchange rate levels of 0.8150 and 0.8100.

However, a recovery of the Euro against the Pound might find resistance in the 0.8250/0.8300 zone, before approaching the 50-day simple moving average near 0.8350.
Back to articles

Actual Topics

Tue, 08 Mar 2022 11:02:51 GMT

USA 500 stocks reach new low level

In early February, the USA 500 stock index broke the resistance line, which had guided the index down since early January. However, the resistance of the 50-day simple moving average was enough for the stocks to resume their decline. On March 7, the index had reached and found some support in the 4,150.00 mark. However, note that the round

Mon, 07 Mar 2022 11:11:01 GMT

Light crude skyrockets above 130.00

The price for crude oil ended its surge in a channel up pattern in early February by trading sideways above the 90.00 mark. However, on February 28, the price began to massively surge, as sanctions on Russia were set by the US and European Union. Namely, the market expects a large decrease of supply that would be caused by

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
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.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
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.