EUR/USD: Broken below short-term key support
|Price Action Context
After consolidating inside a corrective structure for almost two months, the Euro has broken below a key support zone which was the bottom of the corrective structure.
Trending Analysis
This break changes our short-term bias to bearish and weak pullbacks into the broken support, which now should act as resistance can offer potential shorting opportunities with the closest area of support waiting at 1.1470.
Closest Support & Resistance Zones
Resistance: 1.1700 – 1.1760
Support: 1.14700 – 1.1570
Visit our website at 2ndSkies for more price action content, free trading lessons, strategies and videos. Find out how we can help you to change the way you think, trade and perform.
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.