EUR/USD
As seen on daily chart, this currency pair is in a sideways movement.
Since the ECB press conference it became clear that we can expect additional stimulus for the European economy in March. This fundamental reason would lead to lower values of the currency pair.
We need to follow the information coming from the Fed and the stock market in the US. If the market continues its downturn, the planned increase in the base rate may be delayed. In recent days, there is a rise in the major indices in the US, but so far it is too early to say whether we have current lows.
EUR/USD is still in a sideways movement, trade within the Bollinger bands. The price is close to the lower limit of lateral movement support 1.0800. Another support level is 1.0710. If the price overcome 1.0800, we can expect a test of 1.0710.
Resistance levels are about round numbers 1.0900, 1.1000, 1.1100 and 1.1050.
No comments:
Post a Comment