EURUSD extended its downside movement from 1.2476 to as low as 1.2218, breaking below 1.2239 support.
EURUSD extended its downside movement from 1.2476 to as low as 1.2218, breaking below 1.2239 support.
Further decline is still possible after a minor consolidation and next target would be at 1.2155 support.
Near term resistance is at the falling trend line on the 4-hour chart. A breakout of the trend line resistance could bring price back to test 1.2345 key resistance, only break above this level could signal completion of the downtrend.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
Comments
Log in or sign up to join the conversation.