Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
20 Jul 2021

EUR/USD Price Analysis: Prints falling wedge around key support line near 1.1800

  • EUR/USD remains pressured at three month low, after three-day downtrend.
  • Bullish chart pattern around important support line keeps buyers hopeful.
  • Momentum indicator tames bullish hopes, 200-DMA adds to the upside barrier.

EUR/USD stays depressed around 1.1800, near the lowest since early April, amid the initial Asian session trading on Tuesday. In doing so, the currency major pair portrays a bullish chart pattern, falling wedge, after a three-day fall while also challenging a crucial support line stretched from November.

Given the downbeat Momentum line, the bulls are less likely to find a way and hence further weakness becomes well expected.

However, a daily closing below the stated support line, around 1.1765 will be probed by the lower line of the wedge, near 1.1730, before a likely free fall to the yearly low surrounding the 1.1700 threshold.

In a case where the EUR/USD bears keep the reins past 1.1700, the November 2020 lows near 1.1600 will be in the spotlight.

On the contrary, a surprise up-move, or consolidation, needs to cross the wedge’s upper line at 1.1835 to renew bullish hopes targeting the 200-DMA level of 1.2008.

If at all the EUR/USD up-moves remain intact beyond 1.2008, lows marked in May and early June around 1.2050 and 1.2100 should return to the chart.

EUR/USD: Daily chart

Trend: Bearish

 

Jul 20, 2021

Wall Street Close: Dow drops the most in nine months amid coronavirus, reflation woes

US stocks posted heavy losses by the end of Monday’s North American session as the coronavirus (COVID-19) woes joined inflation concerns and Sino-Amer
Read more Previous
Jul 20, 2021

Australia: Recent lockdowns mean lower than expected growth but inflation to pick up sharply – Fitch

In its latest analysis of Australia, the global rating giant Fitch said, “If higher inflation and interest rates over 2021-2023 modestly exceed our ba
Read more Next