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Technical analysis

EURUSD Bearish Below 1.1315 Ahead of ECB Meeting

OctaFx | Dec. 13, 2018
EURUSD Bearish Below 1.1315 Ahead of ECB Meeting

December 13, OctaFX – The euro currency is trading at the mid-point of its trading range against the US dollar after sellers failed to break below key trendline support. The EURUSD currently has a neutral bias heading into today’s ECB policy meeting, with the pair stuck in range bound mode.

EURUSD Technical Forecast

Overall, a definitive technical breakout from the well-defined triangle pattern is needed before a short-term trend can be established.

  • The EURUSD pair is only bearish while trading below the 1.1315 level, key technical support is found at the 1.1267 and 1.1216 levels.
  • If the EURUSD pair moves above the 1.1430 level, buyers may test the 1.1500 and 1.1550 resistance 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.