empty
 
 
pk
سپورٹ
فوری اکاونٹ کھولیں
تجارتی پلیٹ فارم
رقم جمع کروانا / نکلوانا

29.02.202407:17 Forex Analysis & Reviews: Forecast for EUR/USD on February 29, 2024

EUR/USD

On Wednesday, the euro made a strong attempt to break below the support level of 1.0825, but, as we anticipated in yesterday's overview, it did not succeed in just a day. Nevertheless, it made an attempt, and speculative interest is clear. We expect another attack on the aforementioned support level. Traders could receive external help – yesterday, the S&P 500 decreased by 0.17%, and in today's Asia Pacific session, the S&P/ASX200 is losing 0.16%.

Exchange Rates 29.02.2024 analysis

On Wednesday, U.S. lawmakers, for the fourth time, agreed to extend funding for some government agencies for a week, through March 8, and the rest for another two weeks, until March 22. Obviously, they will be able to approve the final allocation of $1.7 trillion even if they fail to do so in March.

We're waiting for the price to settle below the level of 1.0825 to confirm the market's choice in pushing the pair towards 1.0724. An alternative scenario, suggesting growth above 1.0905, will emerge after the price overcomes the resistance of the MACD line (1.0874).

Exchange Rates 29.02.2024 analysis

On the 4-hour chart, yesterday, the price failed to settle below the MACD line, rising back above the red balance line. The Marlin oscillator is in its lower half, indicating a predominantly downward trend. In order to support the decline, the price needs to settle below the 1.0817 mark.

*تعینات کیا مراد ہے مارکیٹ کے تجزیات یہاں ارسال کیے جاتے ہیں جس کا مقصد آپ کی بیداری بڑھانا ہے، لیکن تجارت کرنے کے لئے ہدایات دینا نہیں.

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.