EUR/USD failed to break below 1.1176 support and stayed in a trading range between 1.1176 and 1.1448, suggesting that a lengthier consolidation for the downtrend from 1.1815 is needed.
EUR/USD failed to break below 1.1176 support and stayed in a trading range between 1.1176 and 1.1448, suggesting that a lengthier consolidation for the downtrend from 1.1815 is needed.
As long as 1.1448 key resistance holds, the downside movement could be expected to resume; a further decline to 1.1000 area is still possible after the consolidation. Only a break of 1.1448 resistance 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.
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