EURUSD analysis – Euro remains under downside pressure below 1.1160


25 July 2019, OctaFX – The euro remains under constant downside pressure against the US dollar on Thursday as expectations remain high that the ECB will announce the timing of the next QE package.

EURUSD technical analysis

The key EURUSD downside levels to watch are the 1.1107 and 1.1050 levels. To the upside, a sustained move above the 1.1160 level could prompt a rally towards the 1.1200 level, although the 1.1240 level is the key upside resistance level.

  • The EURUSD pair is heavily bearish while trading below the 1.1160 level, key support is found at the 1.1107 and 1.1050 levels. 

  • If the EURUSD pair trades above the 1.1160 level, bulls could test back towards the 1.1200 and 1.1240 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.

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