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12 February 2019

Forex Technical analysis

Euro Heavily Bearish Below 1.1300

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February 12, OctaFX – The euro is trading at its weakest level against the US dollar since December last year after sellers finally broke through the important 1.1300 support level.

EURUSD Technical Outlook

If sellers can move the EURUSD pair below the 1.1260 level, a further decline towards the 1.1215 support region appears possible. It is worth noting that the 1.1300 level is now former support turned key intraday resistance.

  • The EURUSD pair is heavily bearish while trading below the 1.1300 level, key technical support is found at the 1.1260 and 1.1215 levels.
  • If the EURUSD pair moves above the 1.1280 level, buyers may test towards the 1.1300 and 1.1330 resistance levels.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Euro EURUSD technical outlook US dollar
The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZMarketz.com, nor should they be attributed to AtoZMarkets.

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