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EURUSD analysis - Euro heavily bearish below 1.1160

EURUSD analysis - Euro heavily bearish below 1.1160

24 July 2019, OctaFX – The euro currency has turned heavily bearish over the medium-term against the US dollar after breaking through the 1.1160 support level on Tuesday.

EURUSD technical analysis

Continued weakness below the 1.1160 level may prompt a test of the 1.1110 support level during today’s European trading session. Market participants are now waiting for the release of PMI Manufacturing data from the eurozone.

  • The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1110 and 1.1050 levels. 

  • If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1180 and 1.1200 levels.

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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.

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