EUR/USD Close to the Strongest Monthly Support

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

EURUSD Current Trading Positions

Sell 58%
Buy 42%
100.0%58.0%0556065707580859095100
Avg Sell Price 1.2008
Avg Buy Price 1.1847
Liquidity Distribution
1.11901.19471.2500SellBuy

 

Trading with currencies and CFDs is speculative in nature and could involve the risk of loss. Such trading is not suitable for all investors. Before using the services of Admiral Markets AS please acknowledge the risks associated with trading, terms and conditions of the services and consult and expert if necessary.