EUR/USD Technical Analysis
The USD exchange rate weakened against the EUR on Friday. The US economic data had a minor impact, so the EUR/USD decreased to the 1.1945 level by the end of the week. A strong support at 1.1900 can lead to the renewed growth. This can be facilitated by the scaling down of the program of conflict stimulation and escalation between the US and North Korea. Today the data on inflation in the Eurozone will be published. In case of positive indicators, the EUR could strengthen in the short term.
After several days of uncertainty, an ascending channel began to form. The price is now moving around the lower border but is aimed at the resistance near 1.1985. The growth along the channel to the previously reached highs is possible in case of breakout of this level.
Trade global forex with the Innovative Broker of 2022*. Choose from 50+ forex markets 24/5. Open your FXOpen account now or learn more about making your money go further with FXOpen.
* FXOpen International, Innovative Broker of 2022, according to the IAFT
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.