NEWS: EUR/USD price is falling -0.8%. Investors have been looking for safer currencies like the US Dollar again, as expectations for a global economic rebound are tempered slightly.
Possible Scenarios:
If EUR/USD fails to breach through S1 of 1.20997, our Research Department expects the EUR/USD to undergo a short-term upward correction.
If EUR/USD manages to break below its S1 of 1.20997, our Research Department expects the EUR/USD to extend its losses to its S2 of 1.20768
Support and Resistance Levels:
EUR/USD |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
1.20538 |
1.20768 |
1.20997 |
1.21302 |
1.21607 |
1.21837 |
1.22066 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €82.21 |
(+/-) £73.28 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.21642
***GBP/USD = 1.36465
Calculations for exchange rate used as of 05:05(GMT) 15/01/2021