EUR/USD: Trading recommendations
|Below the resistance level, 1.1915 continues to bear downward dynamics, and therefore, near the resistance level 1.1876, a rebound is possible with a further decline with targets at local minimums near the level 1.1750. A break of the key support level 1.1620 could finally bring EUR/USD back into the bear market.
In the alternative scenario, and after the breakdown of the resistance level 1.1876, further correctional growth towards the resistance levels 1.1915, 1.1950 should be expected. After consolidating in the zone above the resistance level 1.1950, EUR/USD may go to distant targets at resistance levels 1.2180 (Fibonacci level 50% upward correction in the wave of the pair's decline from the level 1.3870, which began in May 2014, and the highs of 2018), 1.2260, 1.2340, 1.2450, 1.2500, 1.2580 (Fibonacci level 61.8%), 1.2600.
Trading recommendations
Sell Stop 1.1830. Stop-Loss 1.1885. Take-Profit 1.1809, 1.1780, 1.1752, 1.1710, 1.1620.
Buy Stop 1.1885. Stop-Loss 1.1830. Take-Profit 1.1915, 1.1950, 1.2065, 1.2180, 1.2260, 1.2340, 1.2450, 1.2580, 1.2600.
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.