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The Euro looks like it topped for now – EUR/USD Market Outlook – 20/08/2020

SquaredFinancial

The Euro looks like it topped for now after yesterday’s breakdown from the 1.19 key support level, after Fed Minutes lowered forecast for economic growth over rest of the year. Equity markets sold-off and the Dollar bulls received further boost as the Fed officials lacked support for the yield curve control. Today, the Euro sell-off will likely continue once 1.18 support is taken out, as the ECB policy meeting’s minutes will likely be the catalyst.

Support: 1.18/ 1.17
Resistance: 1.1860/ 1.19

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/the-euro-looks-like-it-topped-for-now-eur-usd-market-outlook-20-08-2020
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