EUR/USD analysis for March 29 2021 – First downside has been reached at 1.1763 but potential for test of second target at
March 29, 2021 12:22 pm
Russia reportedly supports rollover of OPEC+ oil production to MayThe report says that Russia would support a broadly stable output by OPEC+ in May, while seeking a small hike in output for itself ahead of this week’s meeting.This is a somewhat similar scenario/demand to the last meeting between OPEC+ members.Further Development
Analyzing the current trading chart of EUR/USD, I found that EUR reached my frist downside target from last week at the pruice of 1.1763.Anyway, the downside pressure is still strong and I see potential for more downside movement and test of 1.1620.Watch for selling on the rallies and main target at 1.1620.
Key Levels:
Resistance: 1.1835
Support level: 1.1620
The material has been provided by InstaForex Company – www.instaforex.com
Russia reportedly supports rollover of OPEC+ oil production to MayThe report says that Russia would support a broadly stable output by OPEC+ in May, while seeking a small hike in output for itself ahead of this week’s meeting.This is a somewhat similar scenario/demand to the last meeting between OPEC+ members.Further Development
Analyzing the current trading chart of EUR/USD, I found that EUR reached my frist downside target from last week at the pruice of 1.1763.Anyway, the downside pressure is still strong and I see potential for more downside movement and test of 1.1620.Watch for selling on the rallies and main target at 1.1620.
Key Levels:
Resistance: 1.1835
Support level: 1.1620
The material has been provided by InstaForex Company – www.instaforex.com
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