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Technical analysis

EURUSD Under Selling Pressure Below 1.1400

OctaFx | Dec. 24, 2018
EURUSD Under Selling Pressure Below 1.1400

December 24, OctaFX The euro is back under selling pressure against the US dollar on Monday, following Friday’s strong reversal lower from the 1.1470 level.

EURUSD Technical Outlook

Sellers now need to force price below the 1.1360 support level, in order to encourage further technical selling in the EURUSD pair. Failure to move price below key support may prompt a bullish recovery back towards the 1.1430 resistance level.

  • The EURUSD pair is bearish while trading below the 1.1400 level, key technical support is found at the 1.1360 and 1.1300 levels.
  • If the EURUSD pair trades above the 1.1400 level, buyers may test towards the 1.1430 and 1.1470 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.