Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis

The Euro initially tried to rally during the trading session on Thursday but gave back the gains in order to continue falling. At this point, we are through major support and it looks like we have some “backfilling” to do in one had recently been a strong move to the upside. The 1.15 level underneath is massive support, and therefore it is worth paying attention to. I do believe that we will eventually go looking towards that area, where a lot of buyers would be interesting to pay attention to. Looking at this scenario, we could fall all the way down to the 1.15 level and still essentially be in an uptrend.

EUR/USD Video 25.09.20

There are a lot of concerns coming out of the European Union, as the PMI numbers were soft and of course we have to worry about the coronavirus figures picking up in the European Union as well. Ultimately, I do think that this is a market that has plenty of headwinds ahead of it, and it is worth noting that the US Dollar Index has shown itself to be turning around in general, which is the direct inverse of what we are seen on this chart.

On a breakdown below the bottom of the candlestick for the day on Thursday, I fully anticipate that this market will start to accelerate to the downside, and quite frankly it would not be a huge surprise to see this happen, mainly because the market is starting to factor in a lot of negativity out there. Either way, I have no interest in buying, at least not at the moment.

For a look at all of today’s economic events, check out our economic calendar.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.