empty
 
 
10.03.2021 10:17 AM
EUR/USD Trapped Under 1.19 Psychological Level!

EUR/USD trades at 1.1881 and continues to maintain a bearish outlook. It has registered a minor rebound, but the pair could resume its downside movement if the US Dollar Index increases again after yesterday's sell-off.

The US inflation data published later today could be crucial for EUR/USD's development. The CPI is expected to increase by 0.4% in February versus 0.3% in January, while the Core CPI may increase by 0.2% in February, more versus 0.0% growth in January.

In line with expectations or better figures should boost the USDX. This scenario will push EUR/USD deeper. The US Dollar Index has retreated a little to retest immediate support before trying to resume its bullish reversal.

EUR/USD Under Pressure!

This image is no longer relevant

EUR/USD has found support right below the descending pitchfork's lower median line (LML) and now it has come back to retest the 1.19 psychological level. It's traded back below the 61.8% retracement level signaling that the corrective phase may continue.

As you already know from my analysis, EUR/USD bearish bias remains intact as long as it stays under the descending pitchfork's median line (ML). Dropping, closing, and stabilizing the lower median line (LML) and under the S1 (1.1829) represents a selling signal.

Forecast & Tips!

Breaking below the S1 (1.1829), registering a new lower low, suggests selling with a potential downside target at the 1.17 psychological level.

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $8000 lebih banyak!
    Pada Maret kami mengundi $8000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback