NEWS: EUR/USD price is falling -0.3%. The Euro is falling as the US Dollar is snapping back. Fears of higher bond yields due to excessive fiscal stimulus is helping the Greenback higher.
Possible Scenarios:
If EUR/USD fails to breach through S1 of 1.22303, our Research Department expects the EUR/USD to undergo a short-term upward correction.
If EUR/USD manages to break below its S1 of 1.22303, our Research Department expects the EUR/USD to extend its losses to its S2 of 1.22056
Support and Resistance Levels:
EUR/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.21809 |
1.22056 |
1.22303 |
1.22633 |
1.22963 |
1.23210 |
1.23457 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €81.76 |
(+/-) £73.63 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.22315
***GBP/USD = 1.35810
Calculations for exchange rate used as of 08:56 (GMT) 08/01/2021