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The Euro is trading below a major resistance line - EUR/USD Market Outlook – 30/04/2020


Fundamental Analysis

* The Euro gained some ground yesterday after the US economy contracted by 4.8%.
* The Fed hinted further money printing is needed to help stimulate the economy.
* The German Unemployment change along with the ECB Monetary Policy Statement will be the key events to watch for today.

Technical Analysis

* The bears are losing momentum as the bulls are on the verge of breaking out from a bearish trend line and the 200-period SMA. 1.09 is the line in the sand.

Support: 1.0815 / 1.0726 Resistance: 1.09/ 1.0950

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/the-euro-is-trading-below-a-major-resistance-line-eur-usd-market-outlook-30-04-2020
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