Forex – EUR/USD: The Euro continued its descent, before a calm day

© O Financista. The EUR/USD continues to fall, before a calm day – The trend remains negative on the EUR/USD pair, as this is the case since now more than 10 days, with new lows since the reopening of the Forex, and new losses this morning in the early european session.

The Euro-Dollar comes in effect to mark a low of 1.1312, the lowest since January 24, as part of a phase of decline, which extends from the 31 January, following a summit at 1.1514.

Last week, several statistics German very disappointing, and the lowering of the growth forecasts of the European Commission had clearly weighed on the Euro.

For its part, the Dollar remained firm, despite the fact that the market is now expecting a pause in the rate increases of the Fed, and despite the threat of a resumption of the shutdown of the US government on February 16.

No precise information does not justify, however, the new drop this week, if this is not the general climate of risk aversion, with concerns related to new negotiations between China and the United States this week.

In regards to the economic calendar, we note that this Monday, February 11, 2019 will be very quiet, with no indicator of potentially influential in the program of the day.

We will however remain attentive to the negotiations on China-USA, and any advances with respect to the Brexit.

From a graphical point of view, the EUR/USD is facing a psychological support at 1.13. Below this level, the next support potential fall to 1.1270, 1.1250 and 1.1215, the low point of the year 2018.

In case of progression, the first resistance is located at 1,1335, before 1,1350, 1,1380 and 1,14.

If EUR/USD manages to climb back above 1.14, the downward trend of the background will be called into question, with potential targets to 1,1425, 1,1450 and 1.15 in case of further increase.

Find news and analysis France on Facebook-Investingcomfrance, Twitter-InvestingFrance and Telegram-Investingfr.

Like this post? Please share to your friends:
Leave a Reply