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Technical analysis

EURUSD Intraday Bearish Below 1.1390

OctaFx | Nov. 21, 2018
EURUSD Intraday Bearish Below 1.1390

The EURUSD pair declined sharply yesterday after the housing starts numbers. In the Asian session, the pair was little moved. What next can traders expect next? The following technical outlook reveals.

November 21, OctaFX – The euro currency has moved sharply lower against the greenback, following a strong move higher in the US dollar index on Tuesday. The intraday sentiment surrounding the EURUSD pair is bearish while price trades below the 1.1390 level.

EURUSD Technical Outlook

The MACD indicator is turning lower on the four-hour time frame, with a sustained move below the 1.1370 support level likely to trigger the next round of technical selling.

  • The EURUSD pair is only bearish while trading below the 1.1390 level, key support is now found at the 1.1330 and 1.1300 levels.
  • If the EURUSD pair trades above the 1.1390 level, key intraday resistance is found at the 1.1418 and 1.1470 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.