EUR/USD under pressure
EUR/USD under pressure as Covid-19 Cases continue to rise in both the US & Europe with further lockdowns to be announced. Hospitals struggling to cope with the increase of numbers & the death toll continues to rise.
Price has fallen below 1.8000 & momentum on the 4hr has turned negative as price has fallen out of the uptrend.
Price is now trading just below 50 & 200 SMA another bearish sign with the next target support level at 1.1722, a breach of this level opens the door for further downside.
Price could potentially trade with a wide range between 1.1600 & 1.1900 into next year.
ECB President Lagarde Speaks at 1pm.
Support: 1.1767 - 1.1722
Resistance: 1.1845 - 1.1878
Price has fallen below 1.8000 & momentum on the 4hr has turned negative as price has fallen out of the uptrend.
Price is now trading just below 50 & 200 SMA another bearish sign with the next target support level at 1.1722, a breach of this level opens the door for further downside.
Price could potentially trade with a wide range between 1.1600 & 1.1900 into next year.
ECB President Lagarde Speaks at 1pm.
Support: 1.1767 - 1.1722
Resistance: 1.1845 - 1.1878
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.