EURUSD price analysis – Euro heavily bearish below 1.1165

29 May 2019, OctaFX – The euro currency is under pressure against the US dollar on Wednesday after the pair failed to find buying interest above the pivotal 1.1190 level.

EURUSD technical analysis

A bearish head and shoulders pattern is now evident across the one-hour time frame, with the EURUSD pair slipping towards neckline support. Key technical support for EURUSD below the 1.1165 level is now found at the 1.1130 level.

  • EURUSD price is heavily bearish while trading below the 1.1165 level, key technical support is now found at the 1.1130 and 1.1110 levels.

  • If EURUSD price trades above the 1.1165 level, key technical resistance is found at the 1.1190 and 1.1235 levels.

EURUSD price analysis, Euro heavily bearish


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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