On Monday, Euro stabilized and rose to 1.1448. Last week, EURUSD reaches 1.1433 which is the lowest level in nearly 16 months. The fall in German bond yields put pressure on Euro. The number of coronavirus infections in Germany remains high. The market expects the European Central Bank to maintain a dovish policy and become increasingly pessimistic about the outlook for Euro.
Technically, Euro’s weekly candle close bearish. The weakening on the daily graph slows down, and the indicators are under pressure. H4 graph show that candle fluctuates at the bottom position and there are signs of retracement. MACD energy volume remained weak. Overall, prioritise BUY within the fluctuation zone. The chart below is showing the key point and the estimated trend, the deciding point is near 1.1500.
Resistance：1.1480-1.1500-1.1530
Support：1.1430-1.1400-1.1350
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