forextamil

EURUSD: Descending Trend Examining the Price Movement.

FX:EURUSD   Euro / U.S. Dollar
Hello buddies,

Two weeks old descending trend made the price range to move in a resistance-support consolidation. In a 1hr time-frame, EURUSD keeping the price range in the downtrend at the same time, the pair has a chance for the further declines. In case the declines continue, the 1.14600 and 1.14300 are the next support zones for the price range.

On the upside, the 1.15250 and the 1.15700 are the likely numbers to get revisit. These resistance zones may confine the pair farther upward move.

Traders, be alert on these resistance-support zones.

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Happy trading.

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