04.03.202216:46 Forex Analysis & Reviews: EUR/USD Analysis on 4th March, 2022

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

EUR/USD extended its daily slide and touched its weakest level in 22 months below 1.0900. The broad-based dollar strength continues to weigh heavily on the pair after the February jobs report showed that Nonfarm Payrolls rose by 678,000, beating the market forecast of 400,000 by a wide margin.

The Relative Strength Index (RSI) on the four-hour chart is now slightly below 30, showing that the pair is technically oversold. Hence, 1.1000 (psychological level) support could hold in the short term and the pair could stage a correction before the next attempt. In case buyers fail to defend that support, the next bearish target is located at 1.0960 (static level).

On the upside, former support of 1.1060 now aligns as initial resistance. The descending trend line coming from Monday reinforces that resistance as well. As long as this level stays intact, sellers should continue to dominate the pair's action. Above 1.1060, 1.1100 (psychological level, 20-period SMA) could be seen as the next resistance before 1.1150 (static level).

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.