Previous Page

EUR/USD – Will the new year end the positive momentum?

AnalyticsTrade Team
AnalyticsTrade Team Last updated on 1 Jan 2023
Category: EUR/USD
EURUSD analysis

Table of Contents

The EUR/USD price ended the month on a strong positive note while the year ended, paring losses partially. The pair looks buoyant, closing above the key moving averages on the daily chart.

The 50-day and 200-day moving averages have formed a bullish crossover. Meanwhile, the 50-day and 100-day moving averages made a bullish crossover earlier this week. The buyers may aim to test the recent highs around 1.0780.

However, it must be noted that the pair may lose its bullish momentum as we enter the new year. Since it rose from a multi-decade low, EUR/USD has not yet seen a corrective wave. The US NFP and ISM manufacturing data, due next week, can be crucial for the pair.

Key levels for EUR/USD

Support1: 1.0620

Support2: 1.0500

Support3: 1.0450

Resistance1: 1.0700

Resistance2: 1.0780

Resistance3: 1.0900

Do you like the post? Share it now:

AnalyticsTrade Team

AnalyticsTrade Team

🎉 Introducing AnalyticsTrade's exceptional team of expert analysts! 🌟 These seasoned pros have been dominating the capital market, trading a diverse range of assets for more than 15 years! 📈💹 Get ready to level up your game with our top-notch, captivating resources in the capital market! 🚀📚

Was this article helpful?


You must login to comment.

Thank You for Contacting Us!

Your email has been successfully submitted and we will get in touch with you shortly