EUR/USD Price Analysis: Next on the upside emerges 1.1917

The bid bias in EUR/USD remains everything but abated on Wednesday and motivates spot to clinch fresh multi-week peaks around 1.1870, just to lose som  |  21/10/2020 10:49
  • EUR/USD has quickly left behind the initial barrier at 1.1830.
  • Further upside now aims for 1.1917 (high September 10).

The bid bias in EUR/USD remains everything but abated on Wednesday and motivates spot to clinch fresh multi-week peaks around 1.1870, just to lose some vigour soon afterwards.

As long as bulls remain in control of the market then the next interim target emerges at the September 10 high near 1.1920 ahead of the August top at 1.1965. Another visit to the 2020 high beyond the critical 1.20 the figure in the immediate term is not favoured for the time being.

Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1289.

EUR/USD daily chart

 

Share

Popular News

Show More Popular News

Market Insight's Views

Market Insight analyses will provide both fundamental and technical comprehensions on finance
and other asset classes for Market Insight viewers

Back

Login to Market Insight Account

Your Market Insight account gives you access to the tools that we offer our customers including our
Technical Studies & Sentiment for your accounts.

Forgot Password?

Don't you have a Market Insight account? With a few easy steps you can easily register to Market Insight

Create a Market Insight's Account

Your Market Insight account gives you access to the tools that we offer our customers including our Technical Studies & Sentiment for your accounts.

register_ty

Thank you!

Welcome to Market Insight family!

You have succesfully completed the registration.
We will send you an e-mail to give you some
instructions and our Terms and Conditions!
Our account representatives will be contacting you as
soon as possible. If you have any further questions
please do not hesitate to mail us via info@marketinsight.com