EURUSD extended its downside movement from 1.2555 to as low as 1.1749. Key resistance is now at 1.1996.
EURUSD extended its downside movement from 1.2555 to as low as 1.1749. Key resistance is now at 1.1996.
As long as this level holds, the downside movement could be expected to continue and the next target would be at the 1.1550 area.
On the upside, a breakout of 1.1996 resistance would suggest that the downside movement is complete, then the pair would find resistance at around 1.2250.
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.
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