Market

Euro May Recover Some Losses | Investing.com

On another Monday of March, is looking capable of starting a certain correction but the long-term pressure didn’t go anywhere. The pair is mostly trading at 1.1882.

The stoppage of the anti-coronavirus vaccination with AstraZeneca (NASDAQ:) in Europe made investors doubt the fact that the herd immunity would be developed soon. The sooner Europe removes all lockdowns, the better and faster the region’s economy may recover. Serious social restrictions are still effective in several countries and they continue preventing European economies from recovering. Check buy/sell forex signals

The “greenback”, in its turn, is feeling support from the US bond yield growth and that’s the aspect, which is very hard to resists.

In the H4 chart, EUR/USD is consolidating around 1.1933; right now, it is trading not far from the downside border of this range. Possibly, the pair may grow to break 1.1933 and then continue moving upwards with the target at 1.2022. From the technical point of view, this scenario is confirmed by MACD Oscillator: its signal line is moving below 0 and may grow to break this level to the upside.

eurusd

As we can see in the H1 chart, after completing the correction at 1.1877, EUR/USD has broken the descending channel. The key scenario implies a new rising wave towards 1.1947, which may later be followed by another correction to reach 1.1900. After that, the instrument may form one more ascending structure with the target at 1.1977. From the technical point of view, this scenario is confirmed by the Stochastic Oscillator: after breaking 50 to the upside, its signal line is steadily growing towards 80.

eurusd

Disclaimer: Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

 

Most Related Links :
todayuknews Governmental News Finance News

Check Also
Close
Back to top button