Technical Analysis EUR/USD - Uniglobe Markets

Technical Analysis EUR/USD

Posted on July 11, 2019 at 06:18 AM

The euro is currently trading at around 1.1255. We will maintain our negative expectations for the pair as stability below the mentioned level may be the reason for the extension in the downside.

There is an increase in bearish forces, and trading below the moving averages is also supportive of negativity. Expecting attempts to fall towards 1.1160 as the first target, a breach of 1.1310 will make us concerned about these negative expectations.

Support: 1.1160

Resistance: 1.1250

Trend: The pair is trading below 1.1260 targeting the 1.1160 level as long as 1.1310 is intact

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