logo |

News

    Home   >     Industry    >     Main body

    EUR/USD Price Forecast – Euro Bounces From 50 Day EMA.

    Abstract:The Euro has rallied pretty significantly during the trading session on Tuesday, as the 50 day EMA seems to have offered support.

      The Euro has rallied rather significantly during the trading session on Tuesday to bounce from the 50 day EMA. This does suggest that perhaps the uptrend is still very much intact, but currently I do not like placing trades at this spot as we do not have significant support or resistance in the near term. I believe that the 1.20 level underneath is much more important than what we are seeing tested right now, thereby having me look at this market as one that probably grinds back and forth in this general vicinity.

      EUR/USD Video 20.01.21

      To the upside, we could get his high as the 1.23 level and still not change much. I believe that we are essentially stuck in a 300 point range, something that is quite common for the Euro after all. We have seen a lot of back and forth and I think really at this point most of what is driving this market is the idea of stimulus coming out the United States, and at this point in time it looks to be massive. However, one should not forget that the ECB is more than likely going to do quite a bit themselves, so we will have to see whether or not this can continue to the upside and break above the massive resistance that starts at the 1.23 handle and extends all the way above at the 1.25 handle. At this point, I do not see that happening anytime soon.

      [fx-forecasts-cta instrument=eur-usd broker=etoro link=https://ad.doubleclick.net/ddm/clk/483366012;289793895;c disclaimer=75%_of_retail_CFD_investors_lose_money]

      For a look at all of todays economic events, check out our economic calendar.

      [fx-article-ad]

    Latest News

    Malaysian Ringgit

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    Malaysian Ringgit
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.