EUR/USD: Selling pressure takes control!
Hello all traders!
Overall, a lackluster start to the week saw the EUR/USD pair extend its decline, falling below the 1.0900 mark and recording a fresh two-month low near the key 34-day Simple Moving Average (EMA).
As such, the US Dollar (USD) continued its rally, pushing the US Dollar Index (DXY) to a fresh multi-week high above 103.00 on persistently high risk sentiment and rising geopolitical tensions in the Middle East. That said, the selling pressure on EUR/USD is not over until the price retests the trendline and the 1.0800 support zone.
Overall, a lackluster start to the week saw the EUR/USD pair extend its decline, falling below the 1.0900 mark and recording a fresh two-month low near the key 34-day Simple Moving Average (EMA).
As such, the US Dollar (USD) continued its rally, pushing the US Dollar Index (DXY) to a fresh multi-week high above 103.00 on persistently high risk sentiment and rising geopolitical tensions in the Middle East. That said, the selling pressure on EUR/USD is not over until the price retests the trendline and the 1.0800 support zone.
Trade closed: target reached
nice
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.