EUR/USD Price Analysis: Extra pullbacks not ruled out

Market news

29 May 2023

EUR/USD Price Analysis: Extra pullbacks not ruled out

EUR/USD remains under pressure and close to 1.0700.
The breach of 1.0700 could pave the way for a sustained drop.

EUR/USD keeps the bearish note well in place and keeps the trade near the key 1.0700 zone on Monday.

The ongoing bearish development could force the pair to break below the 1.0700 region and thus expose a deeper pullback to, initially, the March low of 1.0516 (March 15) in the near term.

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0485.

EUR/USD daily chart

Currencies. Daily history for Monday, May 29, 2023

Commodities. Daily history for Friday, May 26, 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.