Euro / U.S. DollarShort
EURUSD prints 1.1712, close to 1.1700 support
EURUSD had print 1.1712 lows before pulling back, and is seen to be trading around 1.1765 levels as we publish this update. The currency has remained shy of the support at 1.1700 bu few pips and it is quite possible that an interim low is in place. High probability remains that EURUSD is producing a counter trend rally towards 1.1840/50 mark, before reversing lower again. Alternately, it could turn lower from here and break 1.1700 support before producing a counter trend rally. Either way, it seems like a meaningful top is in place around 1.1915 levels already, and prices should stay below that mark.
Remain short, stop @ 1.1970, target @ 1.1167
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 1.1970, target @ 1.1167
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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