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Technical analysis

EURUSD Heavily Bearish Below 1.1260

OctaFx | Feb. 14, 2019
EURUSD Heavily Bearish Below 1.1260

February 14, OctaFX – The euro has fallen to fresh monthly trading low against the greenback after the eurozone economy posted much weaker than expected data and the US dollar reversed direction.

EURUSD Technical Analysis

The EURUSD pair is heavily bearish while trading below the 1.1260 level and may soon challenge its multi-year trading low, around the 1.1215 level. Traders now await the release of key eurozone GDP this morning, with a weaker than expected figure likely to put further downward pressure on the euro.

  • The EURUSD pair is heavily bearish while trading below the 1.1260 level, key technical support is found at the 1.1215 and 1.1180 levels.
  • If the EURUSD pair holds above the 1.1260 level, buyers may test towards the 1.1280 and 1.1310 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.