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Forex

Euro Recovers Moderately

OctaFx | Oct. 10, 2018
Euro Recovers Moderately

OctaFX – The euro currency has moved above the 1.1500 level against the US dollar after US President Donald Trump once again criticized the US Federal Reserve on Tuesday.

EURUSD Intraday Bullish Above 1.1553

Price-action on the EURUSD pair has become increasingly bullish, a potential inverted head and shoulders pattern may also be forming. Buyers now need to close the day above the 1.1553 resistance level, while sellers need to close the day below the 1.1463 level.

  • The EURUSD pair is intraday bullish while trading above the 1.1490 level, key technical resistance is now found at the 1.1553 and 1.1600 levels.
  • If the EURUSD pair declines below the 1.1490 level, sellers may target the 1.1463 and 1.1429 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.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.