EURUSD Downside Pressure Confronts Mild Support at 1.1870 Level
Login

EURUSD Downside Pressure Confronts Mild Support at 1.1870 Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

EURUSD Price Analysis – March 22

Despite an earlier improvement in the overall EURUSD outlook, the pair came under pressure as the price tanked towards a low level at 1.1870. EUR is holding well, however the pair can fall on a break below 1.1870 although posting a limited downside we can see a reversal from there. Retreating Treasury yields capped any strong gains for the USD bulls and helped limit the slide.

Key Levels
Resistance Levels: 1.2190, 1.2050, 1.1952
Support Levels: 1.1870, 1.1740, 1.1693
EURUSD Long term Trend: Ranging
The EURUSD recovery may extend above the moving averages 5 and 13 towards the 1.1952 barriers while above today’s low at 1.1870 level. A ranged movement within 1.1900-1.1950 could be possible for the medium term. Unless a break on either side of this range is seen, it would be difficult to get clarity on further direction.

However, a clear breach of the ascending trendline may change the attention towards the 1.1740 low level. Only a break of 1.1952 level medium-term resistance may imply the present negative phase in EUR has run its course. The pair now trades near 1.1910, representing a 0.10% gain on the day, having rebound from a low of 1.1870.
EURUSD 4-Short term Trend: Ranging
The intraday bias in EURUSD is heading into the neutral zone for the moment. On the upside, a break of the 1.1952 level in the near term will extend the rebound towards the 1.1989 level. In the event of a sustained breach there, the pair will indicate completion of correction from 1.2240 and bring a retest of this high.

On the downside, however, a break of 1.1870 level will extend the correction from 1.2240 to 38.2% retracement of 1.0635 to 1.2240 at 1.1693 level. In the meantime, EURUSD keeps the rebound theme unchanged and is still supported by the ascending trendline support near the 1.1870 level.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News