EURUSD Risk Continues To Point Lower Short Term

FXAssure • by Mohammed Isah

Forex Trades • Oct 19, 2020 at 1:53 AM EDT

EURUSD faces further downside pressure as it holds on its downside short term trend. Resistance comes in at the 1.1750 with a break of that area turning risk towards the 1.1800 level.

EURUSD faces further downside pressure as it holds on its downside short term trend.

Resistance comes in at the 1.1750 with a break of that area turning risk towards the 1.1800 level. A move above here will target the 1.1850 level. Further up, resistance stands at the 1.1900.

On the down, support comes in at 1.1700 level with a violation opening the door for a run at the 1.1650 level. Further down, support is seen at the 1.1600 level. A cut through that level will clear the way for a move towards the 1.1550 level.

All in all, EURUSD looks for more downside pressure in the new week.

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