EUR/USD Threatens Further Bearishness

FXAssure • by Mohammed Isah

Forex Trades • Jul 28, 2019 at 5:54 PM EDT

EUR/USD threatens further bearishness as we look for more declines in the new week. Support comes in at the 1.1100, where a violation will turn risk to the 1.1050 level.

EUR/USD threatens further bearishness as we look for more declines in the new week. Support comes in at the 1.1100 where a violation will turn risk to the 1.1050 level.

A break below here will target the 1.1000 level. Further down, support sits at the 1.0950.

Conversely, on the upside, resistance resides at 1.1150 level with a break through there opening the door for further upside towards the 1.1.1200 level. Further up, resistance comes in at the 1.1250 level where a violation will expose the 1.1300 level.

All in all, EUR/USD expects more weakness to occur in the new week.

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