By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Price Analysis of EUR/USD: Testing the lower boundary of the descending channel near 1.0800
Share
Notification Show More
Latest News
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > Price Analysis of EUR/USD: Testing the lower boundary of the descending channel near 1.0800
Forex

Price Analysis of EUR/USD: Testing the lower boundary of the descending channel near 1.0800

News Room
Last updated: 2024/08/02 at 5:49 AM
News Room
Share
2 Min Read
SHARE

The EUR/USD pair is currently testing the lower boundary of a descending channel around the level of 1.0800, indicating a bearish trend. The 14-day RSI, a momentum indicator, remains below the 50 level, further confirming the bearish sentiment for the pair. However, if the RSI approaches the 50 level, it could provide some support for the EUR/USD pair.

In terms of potential price movements, a break below the lower boundary of the descending channel at 1.0800 could reinforce the bearish sentiment and push the pair towards the key support level of 1.0670. On the flip side, the pair may face resistance around the nine-day EMA at 1.0825, with further resistance at the upper boundary of the descending channel around 1.0850. A breakout above this level could drive the pair back towards the four-month high of 1.0948.

Looking at the percentage change of the Euro against major currencies today, the Euro was the strongest against the British Pound. The heat map shows the percentage changes of major currencies against each other, with the base currency selected from the left column and the quote currency from the top row. For example, selecting the Euro on the left column and moving to the US Dollar on the horizontal line will display the percentage change for EUR/USD.

Overall, the EUR/USD pair continues to follow a bearish trend as it tests the lower boundary of a descending channel. The 14-day RSI confirms the bearish sentiment, with potential support if the RSI approaches the 50 level. In terms of resistance, the pair may face barriers at the nine-day EMA and the upper boundary of the descending channel. Traders should keep an eye on key levels such as 1.0800, 1.0825, and 1.0850 for potential trading opportunities.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room August 2, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Crypto.com Surpasses Coinbase in Trading Volume
Next Article UAE Palestinian expats hope to reconnect with families after 300 days of Gaza war, hoping to see them in person and not in graves
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World June 28, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?