HomeContributorsTechnical AnalysisEURUSD Faces Risk Of Medium Term Trend Resumption

EURUSD Faces Risk Of Medium Term Trend Resumption

EURUSD faces risk of medium term trend resumption following its price reversal on Friday. Support lies at the 1.1300 level where a violation if seen will aim at the 1.1250 level. A break below here will aim at the 1.1200 level. Further down, support comes in at the 1.1150. On the upside, resistance resides at 1.1400 level with a break through there opening the door for further upside towards the 1.1450 level. Further up, resistance comes in at the 1.1500 level where a violation will expose the 1.1550 level. All in all, EURUSD continues to threaten further bear pressure.

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FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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