EUR/USD continued its sideways movement in a trading range between 1.1508 and 1.1851. As long as 1.1851 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.2555.
EUR/USD continued its sideways movement in a trading range between 1.1508 and 1.1851. As long as 1.1851 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.2555 and a breakdown below 1.1508 support could take the price to the 1.1200 area.
On the other hand, a breakout of 1.1851 resistance would indicate that the downside movement had completed at 1.1508 already, then further rally to 1.2050 area could be seen.
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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