EUR/USD analysis for 03.25.2020 – Potential for upside continuiation towards the level of 1.0887

Corona virus news:


The corona virus death toll in Spain has overtaken that in China, climbing to 3,434 and sitting behind only Italy, in a pandemic that has left about 20% of the world’s population living under lock down.

After more than a week in lock down, Spain has emerged as one of Europe’s hardest-hit countries, with 738 lives claimed in the past 24 hours. Italy remains the center of the crisis with a total of 6,820 deaths – more than double the 3,285 deaths documented in Hubei, China.

Technical analysis:

EUR/USD has been trading sideways at the price of 1.0800. Anyway, there is the rising trendline in the background and no confirmation for any downside reversal.

Watch for buying opportunities at the level of 1.0800 with potential targets at 1.0880 and 1.0935.

MACD oscillator is showing that slow trend line is to the upside, which is good indication of the current short-term up trend.

Resistance levels are set at the price of 1.0880

.Support level is set at the price of 1.080 and 1.0750

The material has been provided by InstaForex Company –