EUR/USD falls to three-week lows amid fresh USD strength

EUR/USD has resumed its falls and hit a new low under 1.11, the lowest since late December. The greenback continues enjoying last week's upbeat American figures. US markets are closed on Monday.

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EUR/USD Forecast: Nearing critical support, increased odds of losing 1.10

GBP/USD Forecast: Brexit and BOE weighing on Sterling

USD/JPY Forecast: Bulls waiting for a reason to resume buying

AUD/USD Forecast: Pressuring lows and at risk of falling further

SPECIAL YEARLY FORECAST

Markets' lean season has lasted two full years and while those are not yet over, flush times are looking more and more likely for this 2020. EUR/USD news: The beginning of the end of the trade war? Ever since hitting 1.2537 in January 2018, the EUR/USD pair has been on a selling spiral that set a multi-year low of 1.0878 just two months ago. The level can hardly be considered an interim bottom when just considering the following price’s recovery, but the focus this time shouldn’t be put on technical readings, but in politics.



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GBP/USD has been on the back foot after weak UK data and concerns about Brexit. Where next?

The Technical Confluences Indicator is showing that cable is struggling around the 1.2998 area, which is the convergence of the Bollinger Band 15min-Lower, the Simple Moving Average 5-15m, and the SMA 10-15m.

Looking down, significant support awaits at 1.2943, which is where the Pivot Point one-day Support 2, and the PP one-week S1 meet.

Looking up, robust resistance is at 1.3019, which is the confluence of the Fibonacci 38.2% one-week, the BB 1h-Middle, the previous daily low and the SMA 5-4h.

Higher, pound/dollar faces several hurdles, with the most important juncture waiting at 1.3056, which is where the BB 1h-Upper, the Fibonacci 38.2% one-day, and the Fibonacci 61.8% one-week all hit the price.

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