EURUSD H1 Trend Watch !
EUR/USD to suffer a substantial drop to 1.1020/00 !
EUR/USD weakness has accelerated sharply over the past week, breaking key support at 1.1495/93. Next notable support is also seen nearby at 1.1310/1.1290, where economists at Credit Suisse expect a temporary pause. However, they expect to see further weakness towards 1.1020/00.
POSSIBLE MARKET MOVES
Our bias remains for 1.1290 to hold at first for a phase of consolidation, but with a major ‘head and shoulders’ top in place, we continue to look for an eventual break in due course and a fall to 1.1020/00.”
“Resistance moves to 1.1513 initially, with 1.0609/18 now ideally capping.
EUR/USD weakness has accelerated sharply over the past week, breaking key support at 1.1495/93. Next notable support is also seen nearby at 1.1310/1.1290, where economists at Credit Suisse expect a temporary pause. However, they expect to see further weakness towards 1.1020/00.
POSSIBLE MARKET MOVES
Our bias remains for 1.1290 to hold at first for a phase of consolidation, but with a major ‘head and shoulders’ top in place, we continue to look for an eventual break in due course and a fall to 1.1020/00.”
“Resistance moves to 1.1513 initially, with 1.0609/18 now ideally capping.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.