EUR/USD Close to the Strongest Monthly Support

Nenad Kerkez Top-XE

The EUR/USD has been in a steady downtrend after it broke from consolidation mode. The pair went below 1.1780 yesterday, but 1.1720 is still a big hurdle for bears. The price is rejecting the W L5 level, and we could see 1.1850. However, 1.1835-50 could provide a rejection towards 1.1763 retest and 1.1720 zone. If the price hots 1.1720, we could see a bounce towards a more significant correction – 1.1895.

EURUSD Current Trading Positions

Sell 58%

Buy 42%

Avg Sell Price 1.2008

Avg Buy Price 1.1847

Liquidity Distribution

Author

Nenad Kerkez

Top-XE

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