Get started
Stephen_Anders

Potential Sharp Decline Looms for EUR/USD as USD Strengthens

Euro / U.S. Dollar (OANDA:EURUSD)  
Stephen_Anders  
OANDA:EURUSD   Euro / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators EURUSD sma Relative Strength Index (RSI) resistence Support and Resistance buy SELL Forex
80
2
trendanalysis chartpattern indicator eurusd sma relativestrengthindex resistence supportandresistance buy sell forex
The significant recovery of the US Dollar (USD) has interrupted the EUR/USD's rebound process after it reached a peak around 1.0690 on Thursday. This currency pair declined below the 1.0640 level in Friday's Asian trading session.

Based on technical analysis, the technical indicators are supporting the downward trend. The price of this pair is gradually recovering; however, it is still constrained by the SMA line. Additionally, the Relative Strength Index (RSI) is trading around the 40 level. If the price drops to this level, there is a possibility of a sharp decline.

Related Ideas

Stephen_Anders
Gold Price Analysis: Short-Term Corrections and Long-Term Trends
Stephen_Anders
Gold Market Analysis: Short-Term Targets and Long-Term Outlook
Stephen_Anders
Technical Signals Point to Strong Upside Potential for USD/JPY
Stephen_Anders
GBP/USD Recovery, Expected to Extend the Upward Momentum
Stephen_Anders
Geopolitical Unrest Drives Gold Beyond $2,400
Stephen_Anders
Analyzing Bitcoin'sTrend: Corrections and Recovery Signals
Stephen_Anders
USD/JPY Rebounds: Japan's Intervention Boosts USD/JPY
Stephen_Anders
GBP/USD's Rise Outlook, Targeting 1.2500 Resistance Level
Stephen_Anders
EUR/USD Seizes Recovery Opportunity Amid Dollar Pressure
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.