NEWS: The EUR/USD is rising on a weaker US dollar ahead of US ISM Non- Manufacturing PMI data for March (15:00 GMT).
Possible Scenarios:
If EUR/USD fails to break above Resistance 2 of 1.17826, our Research Department expects EUR/USD to undergo a short- term downward correction.
If EUR/USD manages to break above Resistance 2 of 1.17826, our Research Department expects EUR/USD to extend its gains to its Resistance 3 of 1.17981.
Support and Resistance Levels:
EUR/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.16947 |
1.17102 |
1.17257 |
1.17464 |
1.17671 |
1.17826 |
1.17981 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-)100$ |
(+/-)84.91€ |
(+/-)72.08£ |
* 1 trading lot is equivalent of 100000 units
** EUR/USD = 1.17769
*** GBP/USD = 1.38728
Calculations for exchange rate used as of 13:45 (GMT+1) 05/04/2021