EURUSD intraday support is seen towards 1.0825/35 levels
EURUSD had rallied over 100 pips after printing lows at 1.0784 levels yesterday. Possibility remains for yet another marginal high before retracing lower again. The fibonacci 0.618 retracement of recent upswing is seen towards 1.0825, and if EURUSD drops to those levels it'd be an opportunity to initiate long positions. The near term upside targets remain towards 1.0950 and 1.1055 respectively. The overall structure remains constructive for bulls until EURUSD holds above 1.0636 lows. Also note that upside targets for medium term remains intact towards 1.1500 and higher. EURUSD needs to break above the recent trading range (1.1150) to accelerate towards next major resistance at 1.1500.
Strategy:
Long against 1.0636, targeting 1.1500 and 1.1600
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Long against 1.0636, targeting 1.1500 and 1.1600
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.