Forex Forum to Share, Discuss, Communicate and Trade Forex

EURUSD: Vulnerable To Downside Though With Caution

Discuss Technical Analysis for various currency pairs and share your views. You may also like to check our Forex technical analysis and Forex forecast sections.
Image

EURUSD: Vulnerable To Downside Though With Caution

Postby FXTechstrategy » Sun Feb 19, 2017 2:56 pm

EURUSD: With the pair closing strongly lower on Friday, further weakness is envisaged. On the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0700 level. Further up, resistance lies at the 1.0750 level where a break will expose the 1.0800 level. Conversely, support lies at the 1.0550 level where a violation will aim at the 1.0500 level. A break of here will aim at the 1.0450 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD faces further downside pressure.

Image
FXTechstrategy
 
Posts: 256
Joined: Sat May 14, 2016 4:52 pm

Return to 2+1 = 3 - Technical Analysis Discussions

 

Who is online on Forum

Registered users: Baidu [Spider], Bing [Bot], Google [Bot], Yahoo [Bot]

cron