EURUSD Tumbles Further Towards the 1.1000 Level With the Market in Risk-Off Mood
Login

EURUSD Tumbles Further Towards the 1.1000 Level With the Market in Risk-Off Mood

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

Azeez Mustapha

Updated:

EURUSD Price Analysis – March 30

The market began in a risk-off mood this week with Asian shares declining and European indices following its path. The EURUSD pair trades at daily lows, close to the level of 1.1010, as the dollar is in recovery mode amid collapse at the end of the previous week.

Key Levels
Resistance Levels: 1.1495, 1.1285, 1.1172
Support Levels: 1.0000, 1.0779, 1.0635

EURUSD Long term Trend: Ranging

EURUSD proceeds moving lower at the start of the week and is now losing nearly a cent from earlier highs of around 1.1146 to present levels of 1,1010.

In the larger context, the entire downtrend from 1.255 (high) level is already in progress as long as 1.1495 resistance level stays. The next aim is a level 1.0635 (low) level. A consistent break of 1.1495 level, although, may suggest that such a downward trend has been accomplished.

EURUSD Short term Trend: Ranging

The 4-hour chart suggests that EURUSD has plummeted below its moving average of 5 and 13, but also that the moving average of 13 appears to converge at around 1.1055 level with the moving average of 5.
EURUSD intraday bias is rendered neutral with 4 hour RSI flowing downwards.

On the upside, a significant break of 61.8 percent of 1.1495 to 1.0635 retraction at 1.1172 levels may advance the potential of a larger trend reversal and shift the emphasis to 1.1495 main resistance level. On the downside, a break of 1.0950 lower support level may, instead, alter bias back to the downside to retest 1.0635 lower level.

Instrument: EURUSD
Order: Sell
Entry price: 1.1095
Stop: 1.1146
Target: 1.0950

Note: Learn2Trade.com 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 results

  • 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