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EURUSD: Vulnerable, Looks To Resume Short Term Downtrend

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EURUSD: Vulnerable, Looks To Resume Short Term Downtrend

Postby FXTechstrategy » Tue Dec 12, 2017 3:04 pm

EURUSD: The pair looks to resume its short term downtrend following its upside price rejection. 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 pressure short term.

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FXTechstrategy
 
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