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FXTechstrategy

EURUSD Remains Vulnerable To The Downside Below Key Resistance

Short
Euro / U.S. Dollar (FX:EURUSD)  
FXTechstrategy  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators forexsignals dailyoutlook EURUSD
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trendanalysis chartpattern indicator forexsignals dailyoutlook eurusd

EURUSD: With the pair continuing to retain its downside pressure on correction, more weakness is likely despite present price hesitation. Resistance comes in at 1.1950 level with a cut through here opening the door for more upside towards the 1.2000 level. Further up, resistance lies at the 1.2050 level where a break will expose the 1.2100 level. Conversely, support lies at the 1.1900 level where a violation will aim at the 1.1850 level. A break of here will aim at the 1.1800 level. All in all, EURUSD faces further downside pressure on correction.

Strategy: Sell at 1.1859, Stop loss at 1.1928, Price target at 1.1759 & 1.1715
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