EUR/USD Price Analysis: The 1.1100 barrier is just around the corner

Market news

4 May 2023

EUR/USD Price Analysis: The 1.1100 barrier is just around the corner

EUR/USD’s upside falters just ahead of 1.1100 once again.
A sustainable advance seems likely once 1.1100 is cleared.

EUR/USD keeps the march north well in place and always with the immediate target at the 1.1100 barrier so far on Thursday.

Further recovery appears on the table for the time being. The surpass of with the 2023 high at 1.1095 (April 26) should encourage the pair to rapidly leave behind the round level at 1.1100 before embarking on a potential visit to the weekly high at 1.1184 (March 21 2022)

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0429.

EUR/USD daily chart

Currencies. Daily history for Thursday, May 4, 2023

Commodities. Daily history for Wednesday, May 3, 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.