Yesterday the EUR/USD was trading lower and closed the day in the red around the $1.1705. Today it was trading in a narrow range of $1.1700-15, staying close to yesterday's closing price. On the hourly chart, EUR/USD has broken through and consolidated below the MA line (200) H1 ($1.1765). Based on the foregoing, it is probably worth adhering to the south direction in trading and while the EUR/USD remains below MA 200 H1, it may be necessary to look for a sell entry point to form a correction.
Resistances levels are at: $1.1755-70, $1.1795, $1.1825-30
Support levels are at: $1.1690, $1.1665, $1.1615
Probably, the main scenario - is a continuation of the decline to $1.1690 (Oct 15 low). An alternative scenario - may be consolidation above MA 200 H1, followed by a rise to $1.1825 (Oct 12 high).
© 2000-2020. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.