EUR/USD Price Analysis: Interim contention emerges near 1.0650

WikiFX | 2023-11-09 14:06

Abstract：EUR/USD faces increasing selling pressure and returns to the sub-1.0700 region afer hitting new highs near 1.0750 at the beginning of the week.

- EUR/USD comes under pressure following Mondays tops.

- Further decline could revisit the 1.0650 zone in the near term.

EUR/USD faces increasing selling pressure and returns to the sub-1.0700 region afer hitting new highs near 1.0750 at the beginning of the week.

In case the downward bias picks up extra pace, the pair could extend the pullback to the 55-day SMA near 1.0650, which is expected to provide temporary contention.

In the meantime, while below the 200-day SMA at 1.0804, the pairs outlook should remain negative.

EUR/USD daily chart

Forex Analysis

Geopolitical Events: What They Are & Their Impact?

You've heard many times that geopolitical events have a significant impact on the Forex market. But do you know what geopolitical events are and how they affect the FX market? Let us learn about it today.

Original 2024-12-21 08:30

Why Do You Feel Scared During Trade Execution?

Trade execution is a pivotal moment for traders. It is when analysis turns into action, and potential profits or losses become reality. However, for many traders, this moment is accompanied by fear. Why does this happen, and how can you address it?

Original 2024-12-21 08:00

WikiEXPO Global Expert Interview: Simone Martin—— Exploring Financial Regulation Change

In the midst of financial innovation and regulation, WikiGlobal, the organizer of WikiEXPO, stays abreast of industry trends and conducts a series of insightful and distinctive interviews on pivotal topics. We are delighted to have the privilege of inviting Simone Martin for an in-depth conversation this time.

Original 2024-12-20 16:27

WikiFX Review: Is IQ Option trustworthy?

IQ Option is catching our eye as it seems to be a trending topic. For those who want to know whether IQ Option is a reliable broker, WikiFX made this article to help you better understand this broker.

Original 2024-12-18 18:34