Euro Remains Under Downward Pressure

February 8, OctaFX – The euro remains under downside pressure against the US dollar on Friday, with the pair trading close to the worst levels of the week so far.

EURUSD Technical Analysis

The EURUSD pair has so far found interim support from the 1.1320 level, a technical break below the current weekly low should prompt a test of the 1.1300 support level. Technical indicators remain depressed on the four-hour time frame and show few signs of a bullish reversal at this stage.

  • The EURUSD pair is bearish while trading below the 1.1360 level, key technical support is found at the 1.1320 and 1.1300 levels.
  • If the EURUSD pair trades above the 1.1360 level, buyers may test towards the 1.1390 and 1.1410 resistance levels.


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.

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