EUR/USD: Euro has reached it's previous low and now looks for support at 1.12976
|EUR/USD: Euro has reached it's previous low and now looks for support at 1.12976
What's going on with the EUR vs USD?
EUR/USD: The Euro has bounced at 1.12976 support in the 60 minutes price chart and could reverse to the upside if it holds above 1.12976. The pair could continue to its next target at 1.13276 if it holds above 1.13130
My thoughts on what may happen
EUR/USD: The Euro has recently suffered a massive drop in its price against the US dollar and has now reached its previous low at 1.12976. The pair is now attempting to reverse to the upside; however, The pair needs to remain above 1.13130 to progress to the upside. The Euro could fall to 1.12748 if it fails to hold at 1.12976
Support: 1.13130, 1.12976, and 1.12748
Resistance:1.13276, 1.13520, and 1.13768
We explain market movements and its potential next move to help and guide you to possibly make the right decision on when to enter, apply stop losses to protect your capital, take profit and exit your position.
Chart 1: The short-term view of the EUR/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points.
Chart 2: The short-term view of the EUR/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
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