EURUSD is trading near the downward loping trend line and a horizontal resistance line signifying limited upside potential. Further the pair has been trading in small body candlestick formations near the mentioned resistance level since last six trading sessions, indicating a trend reversal could be witnessed. RSI has also flattened since mid-November supporting our observation. It would be prudent to say that EURUSD could decline towards 1.1850 & 1.1810 while it sustains below 1.1925.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.