Technical outlook and ideas for Forex pairs
We have outlooked several promising Forex pairs and the result can surprise you!
EUR/USD is at decisive levels
Information is not investment advice
EUR/USD was supported in the 1.0990 area last week. The support was strengthened by the fact that the attempted breakout of this level failed. On Monday, the pair recovered on the weak US data and went up through the 50- and the 100-day MAs. Now these lines provide support at 1.1070 and 1.1040. Resistance is now located in the 1.1100/1.1115 area (trend line going down from October 2018 highs). The advance above this zone is needed to open the way up to 1.1160 (200-day MA). All in all, EUR/USD finds itself in a confined space now, so bigger moves should come soon.
Elizabeth Belugina
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