EUR/USD Analysis: remains below monthly resistance
|“The euro lost a bit of its topside momentum as the French election risk is still a key concern for EUR.”
– Stephan Innes, Market Pulse (based on investing.com)
-
Pair’s Outlook
During the early hours of Monday’s trading session the common European currency once more attempted to break higher against the Greenback. Previously, during Friday’s trading session the currency pair failed to break through the resistance put up by the monthly R1, which is located at the 1.0772 level. It is most likely that the resistance will be broken soon, as the rate has moved and traded above it already more than once. In that case the pair would most likely surge to the next notable resistance level, as the weekly R1 is located at the 1.0814 level. -
Traders’ Sentiment
SWFX traders remain bearish, as 59% of trader open positions are short, and 59% of trader set up orders are to sell the Euro.
Interested in EURUSD technicals? Check out the key levels
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 assets. 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 Open Markets 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.