empty
 
 
30.03.2023 05:49 PM
EUR/USD: downside invalidated, 1.0929 as resistance

The EUR/USD pair rallied in the short term and now is trading at 1.0910 far above today's low of 1.0823. DXY's sell-off forced the greenback to lose more ground versus its rivals. The bias remains bullish so further growth is natural.

Fundamentally, the US reported poor economic figures, this is the reason why the USD drops versus all its rivals. The Final GDP rose by 2.6% less versus 2.7% expected, while Unemployment Claims came in at 198K versus 196K estimated. On the other hand, the German Prelim CPI surged by 0.8% beating the 0.7% growth estimated.

EUR/USD Boosted By US Data!

This image is no longer relevant

Technically, the EUR/USD pair failed to drop below 1.0816 signaling strong upside pressure and continuation. Now, it has passed above the median line (ml). So, as long as it stays above this dynamic support, the bias is bullish.

It was almost to reach the 1.0929 higher high, but it has failed to stay above the weekly R1 (1.0920). In the short term, the rate could come back to test and retest the median line (ml) before extending its growth.

EUR/USD Outlook!

Testing and retesting the median line (ml) could announce a new bullish momentum. This could be seen as the first bullish signal. A valid breakout above 1.0929 activates further growth and represents a good long opportunity.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback