EURUSD has been trading in an uptrend as confirmed by the longer term and higher timeframe charts; however it has experienced correction since the first week of January 2021 and currently stands at the 38.2% retracement of the rise experienced since November 2020 to January 2021. It would be prudent to say that the Euro could rebound towards 1.2175 and 1.2200 if it sustains above 1.2050.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.