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EUR Technical Analysis

This is a discussion on EUR Technical Analysis within the Forex Trading forums, part of the Trading Forum category; The European Commission’s proposed €750 billion package to help the EU economy recover from the coronavirus pandemic will likely be ...

      
   
  1. #121
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    Euro Forecast: EUR/USD Still Bullish

    The European Commission’s proposed €750 billion package to help the EU economy recover from the coronavirus pandemic will likely be the center of attention this coming week.

    EUR Technical Analysis-eurusd-h4-alpari-international.png


    It is expected to be discussed at Thursday’s Eurogroup meeting and hopes of an accord should keep EUR/USD on an upward trajectory even though the plan requires the agreement of all 27 EU member states, which is unlikely for several more weeks.

    For now, EUR is reacting positively to the latest stimulus moves, from the ECB and Germany as well as the European Commission, and will likely continue to do so.

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  2. #122
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    Euro Forecast: bullish ranging near bearish reversal area

    There had been hopes that a solid economic recovery was on the way but that now seems in doubt, and the chances are that investors will again opt for safe havens like the US Dollar and the Japanese Yen rather than the Euro, the British Pound or the Australian Dollar.

    EUR Technical Analysis-eurusd-d1-metaquotes-software-corp.png


    This has already begun to take its toll on EUR/USD, which is now well down from the high above 1.14 reached earlier this month, and further losses from here would be no surprise.

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  3. #123
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    Euro Forecast: bullish breakout by 1.1626 resistance level to be crossed; waiting for retracement

    The agreements by EU leaders on a budget and a recovery fund have given EUR/USD a boost and prepared the ground for a further advance that could take the pair back to its autumn 2018 highs. However, traders should watch out for a possible retracement first as the pair is now technically overbought.

    EUR Technical Analysis-eurusd-d1-metaquotes-software-corp.png


    Having broken above the 1.15 level, EUR/USD is well placed to challenge the 1.1621 high reached in October 2018. However, a pullback is possible first after the pairís recent strong gains.

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