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FXTechstrategy

EURUSD Remain Vulnerable, Bear Pressure Eyes 1.1550/25 Zone

Short
Euro / U.S. Dollar (FX:EURUSD)  
FXTechstrategy  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns Forex forexsignals forexanalysis trading
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EURUSD remains vulnerable to the downside following its past week lower close. This development has opened the door for more weakness in the days ahead. On the upside, resistance comes in at 1.1650 level. A break through there opening the door for more upside towards the 1.1700 level. Further up, resistance lies at the 1.1750 level where a break will expose the 1.1800 level. But, support lies at the 1.1550 level where a violation will aim at the 1.1500 level. A break of here will aim at the 1.1450 level. Below here will open the door for more weakness towards the 1.1400. All in all, EURUSD still faces further downside pressure.

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