For Traders

Analytical Reviews

Technical analysis

02.04.202014:03 Forex Analysis & Reviews: EUR/USD analysis for 04.02.2020 - Broken support at 1.0923, potential for bigger drop towards the level of 1.0640

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Corona virus summary for Europe:

Spain death toll passes 10,000 with record single-day rise of 950

Spain's coronavirus death toll rose to 10,003 on Thursday, up from 9,053 on Wednesday, an increase of 950. On Tuesday Spain had recorded 864 deaths related to coronavirus, its previous highest figure.

France to set up road blocks to block Easter holidaymakers

France's interior minister Christophe Castaner warned the country to stay at home as the Easter holidays begin. He said roadblocks would be set up on major highways and extra police or soldiers dispatched to train stations and airports to verify the documents of anyone stopped out and about.

Technical analysis:

EUR/USD has been trading downwards. The EUR did break the important support at the price of 1.0923, which is good indication that sellers are in control and that we might see further downside movement.

Watch for selling opportunities with the downward targets at 1.0755 and at the price of 1.0640.

MACD oscillator is showing strong selling pressure from the background with the slow line slopping to the downside, which is strong sign of the bearish pressure.

Resistance level is set at the price of 1.0970.

Support levels and downward targets are set at the price of .0755 and at the price of 1.0640.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.