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9 Mar 2020

EUR/USD Price Analysis: Euro pressuring 2020 highs and nearing 1.1500 figure

  • EUR/USD bullish pressure remains unabated after the London close. 
  • The level to beat for bulls is the 1.1471 resistance.
 

EUR/USD weekly chart 

 
EUR/USD is reversing up sharply from 34-month lows as the spot is virtually erasing the 2019 losses in about three weeks of trading. There are no signs that the spot might slow down and a spike to the 2019 highs in the 1.1569/1.6000 price zone remains on the cards.
 

EUR/USD four-hour chart

 
EUR/USD is pressuring the 1.1471 resistance as the London session came to an end. As the bulls remain in control EUR/USD has room to climb towards the 1.1518 and 1.1566 price levels. Support can emerge near the 1.1400/1.1363 price zone and 1.1300 figure, according to the Technical Confluences Indicator.   
 
 
Resistance: 1.1471, 1.1518, 1.1566
Support: 1.1400, 1.1363, 1.1300
 

Additional key levels

 

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