EUR/USD: Technical Analysis
The price breached 1.2620 support, which indicated further possible decline towards new local minimums. Trading is currently carried out at 1.2550/40 levels. Indicators are turned down, suggesting to expect new targets to be tested at 1.2470 - 1.2400/1.2390 levels. However, a cluster of strong supports on the way may halt the pair and trigger consolidation with 1.2620/25 resistance as the upper bound.
Analysis by: Arkady Nagiev
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.