EUR/USD: as low as three years ago

EUR/USD: as low as three years ago

2020-02-13 • Updated

Key indicators

Performance in 2020: -2.6%

Last day range: 1.0862-1.0923

52-week range: 1.0862-1.1338

Where does the support level come from?

It comes from spring 2017, almost three years ago. That’s how low the EUR/USD trades now. Therefore, if things keep going as they do now for this currency pair, you will have to hang your support levels in the “emptiness downstairs”. Unless you prefer looking at a weekly timeframe.

EURUSDDaily.png

Why so bad?

The realistic answer to this question is that there are no solid factors to support the euro. In the meantime, those against it are numerous. Weak domestics growth in the Eurozone, questionable monetary policy line on behalf of the ECB, gloomy perspective of the outcome of the Brexit transition period, a significant probability of trade tensions with the US – you name it. The USD, on the contrary, has an 11-year continuous expansion of the American economy, strong labor indicators, notable resilience of the stock market even despite the Coronavirus, and justified actions of the Fed as presented by Jerome Powell this week. As you can see, it is little surprise that the EUR/USD has dropped to where it has not been for the last three years. And there is a high likelihood that we are yet to see it further down.

Technical levels

Resistance 1.0923

Support 1.0840

                                                                           

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

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?

What awaits the Oil Market in February?
What awaits the Oil Market in February?

Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.

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