Open Demo Account
Home / Market Update / Forex Market / EUR/USD advances, regains some buying interest

EUR/USD advances, regains some buying interest

Mohamed Abdelhamid 9 March, 2023 7:14 pm Forex Market, Market Update

The EUR/USD pair is advancing on Thursday, it is also regaining some buying interest to the 1.0580/85 band following two daily drops in a row.

The continuation of the downtrend seems favoured for the time being. Against that, the pair could dispute the 2023 low at 1.0481 (January 6) once the March low at 1.0524 (March 8) is cleared. Further losses are expected to retest the minor support at 1.0443 (weekly low December 7 2022).

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0324.

Tags

Check Also

European Stocks Hold Steady as Investors Weigh Trade Optimism and Earnings

European equities opened broadly stable on Monday, as investors balanced cautious optimism over easing U.S.–China …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends