The #EURUSD pair bounced from the mentioned low ahead of the London fix, heading into the Asian opening trading in the 1.0970 region. The pair retains the #bearish stance, with an upward corrective movement only likely if the pair firms up beyond 1.1000.
Now, it is trading at 1.0934. In the meantime, the 4 hours chart shows that the 20 SMA continues accelerating south below the larger moving averages and well above the current level, while technical indicators have stalled their slumps, but remain within extreme oversold levels.
The #risk is skewed to the #downside, with the decline seen extending on a break below the mentioned daily low.
Support levels: 1.0955 1.0920 1.0890
Resistance levels: 1.1000 1.1040 1.1085
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.