After the weekend, we see a continuation of the sentiment seen at the end of last week. Although Macron's win in the second round of the French presidential election is a positive factor, lockdown fears in Asia have returned to the market and thus we may see risk-off sentiment.
Looking technically at the chart, EURUSD quotes continue to move within the downtrend. Last week, the horizontal resistance zone at the level of 1.0925 effectively stopped the gains, after which the downward impulse began. This morning, in turn, overcame the last local minima at 1.0760, which confirms the prevailing downtrend on the currency pair. Currently, we can observe a small demand reaction at the height of the 127.2% measure, which was determined on the basis of the last correction, but if it is exceeded, the discount may deepen towards the 161.8% coefficient at 1.0648.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
EURUSD, H1 interval. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
