The EUR/USD remains under pressure below the 1.1240-80 resistance zone as it tests a major downtrend line.
The Euro is still hovering around the downtrend resistance line as more pressure still affects the market.
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 | 1.1160 | 1.1240-80 |
LEVEL2 | 1.1065 | 1.1350 |
LEVEL3 | 1.0975 | 1.1475 |
Orbex LIMITED is a fully licensed and Regulated Cyprus Investment Firm (CIF) governed and supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10). Orbex LIMITED is licensed to provide Investment Services (Reception & Transmission, Execution and Dealing on own account) and Ancillary Services.
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, the 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.
Comments
Log in or sign up to join the conversation.