EUR: another winner in the field

EUR: another winner in the field

2020-03-03 • Updated

Key indicators

Performance in 2020: -0.6%

Last day range: 1.1037 – 1.1184

52-week range: 1.0780-1.1515

Euro's winning spree

The euro has been in decline against the US dollar since the very beginning of 2018. That means, for more than two years. Now, this long-term trend is put to a test. Who would know that it would be Coronavirus that led to such an outcome?

Checkpoints

So the euro has retaken all its losses to the USD that we have seen since the beginning of February. In fact, it is now one step away to recover all it gave to the US dollar during this year. If it comes to test the resistance of 1.1250, which is the December high and a 6-months high, that will be a sound tactical victory.

Strategically, reaching up to 1.1250 would mean defying the long-term downward trend (market as a blue straight line). That resistance level is less than in 100 pips from the current 1.1145, and EUR/USD made stronger leaps in the recent days. So even if the target may not be an easy one, it is completely realistic for a day’s trade.  

Geopolitically, the question about the EUR/USD and its further advancements gets increasingly intriguing as the trade between the US and Europe doesn’t seem to be moving along the most pacifying note on behalf of each side, and Brexit is another catalyst to that “friendly” trade process. Let’s watch what the ECB president Christine Lagarde says next week, and what the US Fed brings to the table the week after.  

Technical levels

Resistance 1.1250

Support 1.1000

EURUSDDaily.png

                                                                                          LOG IN

 

 

Similar

MSFT faces gloomy forecasts ahead of earnings report
MSFT faces gloomy forecasts ahead of earnings report

In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.

TESLA Earnings Report Outcome Forecast
TESLA Earnings Report Outcome Forecast

In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.

Will NETFLIX surprise investors?
Will NETFLIX surprise investors?

The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.

Latest news

Best Instruments to Trade This Week
Best Instruments to Trade This Week

This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.

European Currencies Ahead of the Banks' Statements
European Currencies Ahead of the Banks' Statements

On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.

Will the FOMC Surprise the Markets?
Will the FOMC Surprise the Markets?

The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera