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Forex

EURUSD analysis - Euro slips into the red from 1.1160

OctaFx | Aug. 27, 2019
EURUSD analysis - Euro slips into the red from 1.1160

The EURUSD pair declined in overnight trading and is currently trading below the 1.1110 level. 

27 August 2019, OctaFX – The euro currency has slipped into the red for the trading week against the US dollar, following a heavy rejection from the 1.1160 level.

EURUSD technical analysis

Bears have the upper hand while price trades under the 1.1110 level, leaving the EURUSD pair exposed to further losses. Overall, bulls need to maintain price above the 1.1130 level, or the EURUSD pair could slip back towards the 1.1050 level.

  • If the EURUSD pair trades above the 1.1110 level, bulls may test towards the 1.1130 and 1.1160 levels.

  •  If the EURUSD pair trades below the 1.1110 level, sellers may test towards the 1.1080 and 1.1050 levels.

EURUSD analysis

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.