The latest daily technical analysis reveals the key support and resistance levels that each of these assets is likely to reach today. Look at the charts and our market analysts’ observations below and gain a fresh perspective on trading.
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EURUSD
Looking at the EURUSD weekly chart, we can see the channel of 1.162 support and 1.166 ended when it failed three times to break the resistance, and hence a return to the 1.162 was the result. It could not hold on to it however and it fell into the 1.16 price range, a 0.5% drop, where it temporarily managed to break the fall. It is currently traded at 1.16 right on the newly formed support level.
Today, we could expect a continuation of the trend and a fall below the 1.16 price range as negative momentum is in play.
If however, it manages to hold its current level then a case for a move towards the 1.162 price range can be expected.
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