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EURUSD analysis - Euro heavily bearish below 1.1100

OctaFx | Aug. 1, 2019
EURUSD analysis - Euro heavily bearish below 1.1100

The EURUSD pair declined sharply to a low of 1.1030, which was the lowest level since July 2017. 

1 August 2019, OctaFX – The euro has fallen below the 1.1100 level against the US dollar, marking a bearish monthly price close beneath the bottom of its yearly price range.

EURUSD technical analysis

The EURUSD pair could eventually target towards the 1.0900 level now the range is breach. Key downside target to watch in the interim for the EURUSD pair is located at the 1.1000 and 1.0980 support levels.

  • The EURUSD pair is heavily bearish while trading below the 1.1100 level, key support is found at the 1.1000 and 1.0980 levels. 

  • If the EURUSD pair trades above the 1.1100 level, bulls could test back towards the 1.1125 and 1.1160 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.