EUR/USD Price Analysis: Gains should accelerate above 1.0300
|- EUR/USD gives away part of Thursday’s advance, stays around 1.0220.
- The pair needs to clear 1.0300 to allow for a more serious recovery.
EUR/USD comes under pressure after faltering once again in the 1.0250/60 region at the end of the week.
The so far August high at 1.0293 (August 2) emerges as the magnet for bulls for the time being. Above this level, spot is expected to see its uptrend reinvigorated and could challenge the temporary 55-day SMA in the near term, today at 1.0404.
In the longer run, the pair’s bearish view is expected to prevail as long as it trades below the 200-day SMA at 1.0927.
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.