EUR/USD Price Analysis: Another drop to 1.0655 stays on the table

Market news

16 February 2023

EUR/USD Price Analysis: Another drop to 1.0655 stays on the table

EUR/USD regains the smile following Wednesday’s marked drop.
Immediately to the downside appears the monthly low near 1.0650.

EUR/USD extends the multi-session consolidative phase around the 1.0700 neighbourhood so far on Thursday.

If the selling pressure gathers extra impulse, the pair could challenge he February low at 1.0655 (February 13) in the short-term horizon. The breach of the latter exposes further weakness to the YTD low at 1.0481 (January 6).

In the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0325.

EUR/USD daily chart

Currencies. Daily history for Thursday, February 16, 2023

Commodities. Daily history for Wednesday, February 15, 2023

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.