Fri, Nov 15, 2024 @ 03:24 GMT
Facebook Mail RSS Twitter
HomeContributorsTechnical AnalysisEUR/USD Decreasing

EUR/USD Decreasing

Swissquote Bank SA
By Swissquote Bank SA

EUR/USD lies below 1.21, breaking hourly support at 1.2112 (12/01/2018). The pair is heading along the 1.2085 range. The pair is currently trading at mid-January 2018 low. Hourly support and resistance are now given at 1.2028 (11/01/2018 low) and 1.2323 (17/01/2018 high). The technical structure suggests short-term downward trading moves.

In the longer term, the momentum is turning largely positive. We favor a continued bullish bias. Key resistance is holding at 1.2886 (15/10/2014 high) while strong support lies at 1.1554 (08/11/2017 low).

Swissquote Bank SA
Swissquote Bank SAhttp://en.swissquote.com/fx
Trading foreign exchange, spot precious metals and any other product on the Forex platform involves significant risk of loss and may not be suitable for all investors. Prior to opening an account with Swissquote, consider your level of experience, investment objectives, assets, income and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not speculate, invest or hedge with capital you cannot afford to lose, that is borrowed or urgently needed or necessary for personal or family subsistence. 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.

Featured Analysis

Load more

Learn Forex Trading

ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward.

Contact us: contact@actionforex.com

© ActionForex.com © 2024 All rights reserved.