- Analytics
- News and Tools
- Market News
- EUR/USD Price Analysis: Sharp decline opens the door to extra losses near term
EUR/USD Price Analysis: Sharp decline opens the door to extra losses near term
- EUR/USD melts down and revisits the area of multi-week lows.
- A deeper drop to the 2023 low should not be ruled out now.
EUR/USD comes under heavy selling pressure and fully reverses last week’s strong rebound, revisiting at the same time the 1.0520 area on Wednesday.
The pronounced sell-off carries the potential to retest the 2023 low near 1.0480 (January 6) ahead of the key 200-day SMA, today at 1.0323.
Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA.
EUR/USD daily chart
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
