EURUSD:Vulnerable, Sets Up To Weaken Further

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Thread: EURUSD:Vulnerable, Sets Up To Weaken Further

  1. #1

    Default EURUSD:Vulnerable, Sets Up To Weaken Further

    EURUSD: The pair closed lower after reversing its earlier gains for the week. On the upside, resistance comes in at 1.1800 level with a cut through here opening the door for more upside towards the 1.1850 level. Further up, resistance lies at the 1.1900 level where a break will expose the 1.1950 level. Conversely, support lies at the 1.1700 level where a violation will aim at the 1.1650 level. A break of here will aim at the 1.1600 level. Below here will open the door for more weakness towards the 1.1550. All in all, EURUSD faces further downside weakness


  2. #2
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    The pair is incredibly bullish, I wouldn't be surprised if it rallies past 1.2350 and continues rallying toward 1.2400 and even 1.2500.

  3. #3
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    It is currently forming a consolidation, next target is likely around 1.2250, I think.

  4. #4
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    It dropped down to 1.1700 and on the large time frames it remains very bearish, the long-term target is around 1.1600, I think.

  5. #5
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    It's moving back south,we will likely see it drop to 1.1700 yet again but whether it will break out below that level is unclear.

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EURUSD:Vulnerable, Sets Up To Weaken Further


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