EURUSD Intraday Technical Outlook


How is the EURUSD pair now trading as investors fear a possible Trade War between the U.S and Asia? Gain insight on this from the 2 March EURUSD Intraday Technical Outlook.

2 March, OctaFX – The euro has reversed losses against the U.S dollar, hitting 1.2280, as investors fear a possible Trade War between the U.S and Asia may harm the overall American economy. The EURUSD quickly bounced from the 1.2153 support level, with euro buyers now testing the pairs key 50-day moving average again, around the 1.2278 level.

Traders now look towards the release of German Retail Sales figures and the European market’s reaction to President Trump proposed trade tariffs.

2 March EURUSD Intraday Technical Outlook

  • The EURUSD pair retains a bearish bias whilst trading below the 1.2278 level, further losses towards 1.2230 and 1.2205 seem possible

  • Should the EURUSD pair move back above the key 1.2278 level, further intraday resistance is found at the 1.2305 and 1.2351 levels.

Disclaimer

This article about 2 March EURUSD Intraday Technical Outlook was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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