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Technical analysis

EURUSD Recovers Above 1.1300

OctaFx | Dec. 17, 2018
EURUSD Recovers Above 1.1300

December 17, OctaFX – The euro currency has recovered above the 1.1300 level against the US dollar after finding buying interest from the 1.1269 support level.

Technical Analysis: EURUSD Watching Resistance Level

Price is now moving towards key trendline resistance from the well-defined triangle pattern, found at the 1.1328 level. If sellers fail to defend this key technical area, buyers can easily force the EURUSD pair much higher towards the 1.1360 level.

  • The EURUSD pair is only bullish while trading above the 1.1328 level, key technical resistance is found at the 1.1360 and 1.1400 levels.
  • If the EURUSD pair trades below the 1.1300 level, sellers may test towards the 1.1269 and 1.1216 support 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.