EUR/USD remains under selling pressure after testing support at 1.1115 beneath a key downtrend resistance line.
The Euro managed to hold below the downtrend resistance line as pressure still affects the market, as prices again tested the support at 1.1115 today.
As long as prices hold below the resistance of 1.1240-80 the drop pressure could continue towards the target and support of 1.1065, which in turn could lead to a correction.
Above 1.1350 more advance is expected.
Below 1.1065 more of a drop is likely.
SUPPORT | RESISTANCE | |
|---|---|---|
LEVEL1 | 1.1115 | 1.1240-80 |
LEVEL2 | 1.1065 | 1.1350 |
LEVEL3 | 1.0975 | 1.1475 |
Orbex Group Limited is the holding company of Orbex Global Limited, Orbex Limited is an affiliate with Orbex Global Limited. Orbex Global Limited is authorized and regulated by Mauritius Financial Services Commission “FSC” (View License). Orbex.com is owned by Orbex Group Limited and is operated by Orbex Global Limited with registered address: Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, 72201 Ebène, Republic of Mauritius
Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.
Comments
Log in or sign up to join the conversation.