empty
07.03.2022 08:27 AM
EUR/USD Sell-Off Stopped At 1.0850 Level

The EUR/USD pair extended its sell-off in the early morning as the US Dollar Index has managed to reach new highs. The currency pair dropped to as much as 1.0821 where it has found support. Now, it is trading at the 1.0884 level and is fighting hard to recover.

Later, the German Retail Sales may report a 1.9% growth versus a 5.5% drop in the previous reporting period, the German Factory Orders may register a 0.9% growth in January versus 2.8% in December, while the Sentix Investor Confidence is expected at 5.1 points.

EUR/USD Bounces Back

This image is no longer relevant

The euro needs strong support from the Eurozone economy to be able to recover versus the greenback. Technically, the price found support on the 250% Fibonacci line of the sideways pitchfork. It has registered a false breakout below this dynamic support level.

As you can see, the quote bounced back, but the pressure remains high. The pair can drop deeper anytime, that's why you have to be careful. The current rebound could help sellers to catch a new selling opportunity.

EUR/USD Outlook

The EUR/USD pair maintains a bearish bias. It could drop deeper anytime if the Dollar Index jumps higher. A valid breakout below the 250% Fibonacci line and below 1.0850 may bring new short opportunities.

Actually, great selling opportunities could appear if the EUR/USD pair comes back to test and retest 1.0950 or the 1.1 psychological level.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Signals for EUR/USD for April 2-5, 2025: sell below 1.0815 (21 SMA - +1/8 Murray)

If the euro breaks and consolidates above the bearish trend channel, we could expect it to reach +1/8 Murray level at 1.0864 in the coming days. EUR/USD could even reach

Dimitrios Zappas 15:18 2025-04-02 UTC+2

Trading Signals for GOLD (XAU/USD) for April 2-5, 2025: sell below $3,140 or buy above $3,110 (21 SMA - symmetrical triangle)

The symmetrical triangle pattern observed on the H4 chart shows that gold could experience a strong bullish impulse to reach 3,169, where resistance R_1 is located. Below this area

Dimitrios Zappas 15:15 2025-04-02 UTC+2

Forex forecast 02/04/2025: EUR/USD, USD/JPY, USDX and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:34 2025-04-02 UTC+2

Forecast for EUR/USD on April 2, 2025

On Tuesday, the EUR/USD pair rebounded from the support zone at 1.0781–1.0797 but failed to rise to the 200.0% Fibonacci level at 1.0857. On Wednesday morning, the pair returned

Samir Klishi 11:23 2025-04-02 UTC+2

Forecast for GBP/USD on April 2, 2025

On the hourly chart, the GBP/USD pair continued to move sideways on Tuesday. There is currently no dominance of either bulls or bears in the market—and this has been

Samir Klishi 11:17 2025-04-02 UTC+2

EUR/USD Forecast for April 2, 2025

By the end of yesterday, the euro fell by 25 pips, but risk appetite in the market continued to grow: the S&P 500 rose 0.38%, the yield on 5-year U.S

Laurie Bailey 04:49 2025-04-02 UTC+2

GBP/USD Forecast for April 2, 2025

Yesterday's data on UK manufacturing activity for March showed a decline from 46.9 to 44.9. Against the backdrop of the U.S. index falling from 52.7 to 50.2, the drop

Laurie Bailey 04:49 2025-04-02 UTC+2

Bitcoin Forecast for April 2, 2025

Bitcoin (BTC) After reaching the support level of 81,231 (the approximate low from March 4 and 18), the price approached the MACD line (86,038). A breakout above this line would

Laurie Bailey 04:49 2025-04-02 UTC+2

Trading Signals for EUR/USD for April 1-3, 2025: sell below 1.0804 (21 SMA - 8/8 Murray)

Early in the American session, the euro is trading around 1.0791, undergoing a technical correction after reaching the top of the downtrend channel formed on March 14 and showing signs

Dimitrios Zappas 15:06 2025-04-01 UTC+2

Trading Signals for GOLD (XAU/USD) for April 1-3, 2025: sell below $3,144 (21 SMA - 8/8 Murray)

On the other hand, if the price consolidates below the 8/8 Murray level at 3,125, the outlook will be negative. So, we believe the instrument could reach 3,091

Dimitrios Zappas 15:04 2025-04-01 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.