EURUSD Continues To Hold Onto Short Term Downtrend

EURUSD continues to face downside pressure as we enter a new week. Resistance comes in at the 1.1050 where a break will turn risk to the 1.1100 level.

A breach below here will target the 1.1150 level. Further up, resistance stands at the 1.1200.

Conversely, on the downside, support comes in at the 1.1000 level with a violation of there opening the door for a further gain towards the 1.0950 level. Further down, resistance lies at the 1.0850 level. A cut through that level will clear the way for a move towards the 1.0800 level.

All in all, EURUSD looks for more bear threats to occur.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.