EUR/USD: Weak Dollar Lifting Euro
Yuri Papshev | Mar 11, 2021 05:46AM ET
The EUR/USD is growing amid a weakening dollar, which, in turn, is declining amid falling yields on US bonds. If the weakening of the dollar stops, then, most likely, the growth of EUR/USD will also stop.
A return into the zone below the support level of 1.1925 could trigger a further decline in EUR/USD towards the lower border of the descending channel on the daily chart and EMA200 on the daily chart. The breakout of the support levels 1.1825 and 1.1780 will increase the risks of resuming the long-term bearish trend in EUR / USD.
Support levels: 1.1925, 1.1825, 1.1780, 1.1600, 1.1520, 1.1285
Resistance levels: 1.1963, 1.1997, 1.2054, 1.2070, 1.2100, 1.2180, 1.2270, 1.2340, 1.2555, 1.2580, 1.2600
Sell Stop 1.1915. Stop-Loss 1.1980. Take-Profit 1.1825, 1.1780, 1.1600, 1.1520, 1.1285
Buy Stop 1.1980. Stop-Loss 1.1915. Take-Profit 1.1997, 1.2054, 1.2070, 1.2100, 1.2180, 1.2270, 1.2340, 1.2555, 1.2580, 1.2600
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