News

EUR/USD Price Analysis: Euro trades in two-day’s highs above 1.0900 figure as Fed injects trillions of liquidity

  • EUR/USD spikes up above the 1.0900 figure on extraordinary Fed’s comments. 
  • Support is seen near the 1.0900 and 1.0850 levels.  
 

EUR/USD daily chart 

 
EUR/USD is bouncing from the 1.0800 figure while trading below the main SMA (simple moving average) on the daily chart. The Fed announced it would inject $2.3 trillion in additional loans while US jobless claims were above 6.6 million, which was worse than expected. 
 

EUR/USD four-hour chart

 
EUR/USD is in consolidation mode while trading below the 200 SMA suggesting a bearish bias in the medium term. However, this Thursday, the market had a spike to the upside as bears want to keep the spot below the 1.0973/1.1000 band. Sellers will be looking for a break below the 1.0900 level end route to the 1.0850 and 1.0800 levels on the way down, according to the Technical Confluences Indicator. 
  
 
Resistance: 1.0973, 1.1000, 1.1050
Support: 1.0900, 1.0850, 1.0800
 
 

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.