EUR/USD: Euro retreats to 1.13080 following a short run to 1.13265
|EUR/USD: Euro retreats to 1.13080 following a short run to 1.13265
What's going on with the EUR vs USD?
EUR/USD: The Euro retreated below 1.13080 in the 60 minutes price chart in yesterday's session; however, the pair came back stronger on its second attempt and made it to 1.13265 before retreating to 1.13080 support in this mornings session.
My thoughts on what may happen
EUR/USD: The Euro has broken the downward trend in the 60 minutes price chart and is likely to progress to the upside if it remains above 1.13080. The Euro is currently holding on to its position at 1.13108 and could head back to re-test 1.13265 if it holds above 1.13080 support. The pair could fall to 1.12958 and 1.12825 if it fails to proceed at 1.13080
Support: 1.13080, 1.12958, 1.12825, and 1.12505
Resistance:1.13265, 1.13495, and 1.13668
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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