EUR/USD Price Analysis: A surpass of 1.2100 exposes extra gains
|- EUR/USD’s corrective downside meets support around 1.2000.
- The resumption of the uptrend targets the 1.2100 level.
EUR/USD retreats further after climbing to as low as the 1.2080 region earlier in the week.
The current leg lower is deemed as temporary, with the resumption of the upside should target recent tops near 1.2080 ahead of the 1.2100 level.
A convincing break above the latter should expose the February highs around 1.2240 ahead of the 2021 peaks in the mid-1.2300s.
Above the 200-day SMA (1.1913) the stance for EUR/USD is predicted to remain positive.
EUR/USD daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.