NEWS: The Euro fell against the US dollar as analysts feared an imminent economic recession in the EU as worries grew that Russia could fully stop Natural Gas supplies, which feed the EU economy with energy.
Possible Scenarios:
If EUR/USD fails to break below Support 2 of 1.04059, our Research Department expects EUR /USD to undergo a short- term upward correction.
If EUR/USD manages to break below Support 2 of 1.04059, our Research Department expects EUR/USD to extend its losses to its Support 3 of 1.03799.
Support and Resistance Levels:
EUR/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.03799 |
1.04059 |
1.04319 |
1.04665 |
1.05011 |
1.05271 |
1.05531 |
Potential Profit or Potential Loss Calculations:
10 pips 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)96.00€ |
(+/-)83.27£ |
*1trading lot is equivalent of 100000 units
**EUR/USD = 1.04147
***GBP/USD = 1.20086
Calculations for exchange rate used as of 13:53 (GMT+1) 01/07/2022