{"id":170165,"date":"2020-05-07T13:22:53","date_gmt":"2020-05-07T17:22:53","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=170165"},"modified":"2020-05-07T13:12:20","modified_gmt":"2020-05-07T17:12:20","slug":"eurusd-falls-through-1-08-nasdaq-turns-positive-for-2020","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/eurusd-falls-through-1-08-nasdaq-turns-positive-for-2020\/","title":{"rendered":"EURUSD falls through 1.08 &#038; Nasdaq turns positive for 2020"},"content":{"rendered":"<div id=\"inves-849496375\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 7, 2020<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By Jameel Ahmad, Global Head of Currency Strategy and Market Research at FXTM<\/strong><\/p>\n<div class=\"article-body\">\n<div class=\"field-body\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>The situation for the EURUSD remains bleak with the Eurodollar continuing to fall through support levels previously mentioned <a href=\"https:\/\/www.forextime.com\/uk\/market-analysis\/eur-crosses-appear-fragile-eurusd-eurjpy-risk\">here<\/a>.<\/p>\n<p>During trade on Thursday it hasn\u2019t taken long for the pair to fall straight towards 1.0765 after declining below 1.08. There does still appear to be some further leg room for the EURUSD to push lower, so there is potentially a move in play where stops are now positioned to 1.08 in the hope that the EURUSD can fall further towards the April 24 and March 24 lows for the Daily candlesticks between 1.0726-1.0719.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.forextime.com\/images\/maa\/eurusd_postit_may_7.png\" alt=\"\" \/><\/p>\n<p>(EURUSD Daily chart FXTM MT4)<\/p>\n<p>Elsewhere and in a cautious market overall, Nasdaq has ventured higher to now trade up\u00a0for the year. This is an astounding achievement when you consider that major stock markets in the U.S declined as much as above 20% just over two months ago. The Nasdaq is driven by technological stocks that continue to perform impressively\u00a0during these extraordinary times, including Netflix and Amazon.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.forextime.com\/images\/maa\/new_nasdaq.png\" alt=\"\" \/><\/p>\n<p>(Nasdaq Daily chart FXTM MT4)<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><em><strong>Disclaimer: <\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n<\/div>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"https:\/\/www.countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\" rel=\"noopener noreferrer\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jameel Ahmad, Global Head of Currency Strategy and Market Research at FXTM The situation for the EURUSD remains bleak with the Eurodollar continuing to fall through support levels previously mentioned here. During trade on Thursday it hasn\u2019t taken long for the pair to fall straight towards 1.0765 after declining below 1.08. There does still [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-170165","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=170165"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170165\/revisions"}],"predecessor-version":[{"id":170168,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/170165\/revisions\/170168"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=170165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=170165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=170165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}