EUR/USD Price Analysis: The hunt for the 1.1150 zone

Market news

4 August 2023

EUR/USD Price Analysis: The hunt for the 1.1150 zone

EUR/USD rebounds sharply and reclaims the area above 1.1000.
Next on the upside comes the weekly top around 1.1150.

EUR/USD adds to Thursday’s advance and climbs to four-day highs north of the key 1.1000 barrier on Friday.

Further gains in the pair should meet the next hurdle at the weekly peak of 1.1149 (July 27). The surpass of this level should alleviate the downside pressure and allow for a potential move to the 2023 high at 1.1275 (July 18).

Looking at the longer run, the positive view remains unchanged while above the 200-day SMA, today at 1.0743.

EUR/USD daily chart

The weak JPY seems ripe for a correction going into next year – Nordea

USD Index Price Analysis: Further losses in store below 103.50

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.