1715 / 5000
Translation results
The price movement on the EUR / USD currency pair chart last weekend flattened below the 1.21800 level after the price still failed to jump out of the resistance zone.
Investors began to assess changes in market sentiment as President Joe Biden's early administration was still shaky in the face of an increasingly critical pandemic crisis.
The declining US stock market also increased trading risk while giving a return to the safe-haven US dollar.
Thus, the rise in the EUR / USD chart stalled after the strengthening of the US dollar put pressure on the price to move lower again.
In addition, the Euro also faces risks in the market due to European economic pressures plagued by the effects of the Coronavirus which is increasingly crippling economic activity based on declining data readings.
This will encourage movement restriction measures to be further enhanced and will further slow economic growth in an effort to curb viral infections.
However, the price on the EUR / USD chart is still in a bullish trend with the price moving above the Moving Average 50 (MA50) support level in the 1 hour time frame.
The horizontal price in the RBS zone (resistance become support) 1.21500-1.21800 will determine the further movement of the price.
If the price manages to jump higher, the uptrend will continue towards the SBR zone (support become resistance) 1.22200 before rising higher to the level of 1.22500.
On the other hand if the price falls below the level of 1.21500 as well as the support level of MA50, the early signal for a trend change for investors expects a lower decline in the price towards the support zone below the level of 1.21000.
