EURUSD (1.1754): The EURUSD currency pair failed to make any recovery last week with Friday’s price action closing at fresh lows. The common currency continues to remain weak amid strong bullish momentum from the U.S. dollar. With the euro seen inching closer to the 1.1730 level of support, we expect to see price action eventually pushing lower to this level. With the resistance level coming in near 1.1846 – 1.1824, we expect that any rebounds in price action would be limited. There is also a strong possibility that price action could break past this resistance level given the bullish divergence seen on the 4-hour Stochastics.
