Main Quotes Calendar Forum
flag

FX.co ★ EUR/USD analysis for 03.23.2020 - Potential end of the upward corrrection ABC and downside continuation towarrds the level of 1.0500. Key resistance at the price of 1.0815 on the test.

parent
Forex Analysis:::2020-03-23T15:09:38

EUR/USD analysis for 03.23.2020 - Potential end of the upward corrrection ABC and downside continuation towarrds the level of 1.0500. Key resistance at the price of 1.0815 on the test.

Corona virus news:

EUR/USD analysis for 03.23.2020 - Potential end of the upward corrrection ABC and downside continuation towarrds the level of 1.0500. Key resistance at the price of 1.0815 on...

First patients enrolled in clinical trial of possible Covid-19 treatments

The first UK patients have been enrolled in a clinical trial for possible Covid-19 treatments, PA reports.

Researchers from the University of Oxford have launched a new clinical trial to test the effects of potential drug treatments for patients admitted to hospital with the virus.

There are currently no specific treatments for the corona virus and it is possible some existing drugs used for other conditions may have some benefits.

Technical analysis:

EUR/USD has been trading upwards today towards the level of 1.0800. In my opinion, EU/USD still got high odds forr the downside continuation. THe important resistance pivot is set at the price of 1.0815.

The short-term trend is still bearish and I couldn't find any big reversal pattern yet, which is sign of the potential downside continuation.

I see potential downside continuation and completion of the ABC correction.Watch for selling opportunities with the downward targets at 1.0560 and 1.0500.

MACD oscillator is showing strong selling pressure from the background, which is strong sign of the sellers are still in control.

Resistance levels are set at 1.0815 and 1.0950

Support levels and downward targets are set at the price of 1.0560 and 1.0500.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...