EUR/USD Risk Continues To Point Lower On Bear Pressure

Forex Trades • Dec 18, 2019 at 2:33 PM EST

With the EUR/USD pair continuing to reject higher prices and declining on Wednesday, more decline is envisaged in the days ahead.

With the EUR/USD pair continuing to reject higher prices and declining on Wednesday, more decline is envisaged in the days ahead. Resistance comes in at the 1.1150 where a break will turn risk to the 1.1200 level. A breach below here will target the 1.1250 level. Further up, resistance stands at the 1.1300. Conversely, on the downside, support comes in at 1.1050 level with a violation of there opening the door for further gain towards the 1.1000 level.

Further up, resistance lies at the 1.0950 level. A cut through that level will clear the way for a move towards the 1.0900 level. All in all, EURUSD expects more weakness to occur in the days ahead.

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