EURUSD Is Approaching 1.3140 Key Support Zone

Some traders are fading the Fiscal Cliff deal by selling the EURUSD despite a strong stock and commodity market. But we believe that bearish is still not the right direction for the pair in low-liquid market.


EURUSD seems to be headed within wave (c) after sharp reversal from 1.3292. A five wave decline from that point should complete a fall and cause a bullish reversal for the pair, ideally from corrective channel support line. Key support is at 1.3140.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.