EURUSD remains shy of breaking 1.1750 support
EURUSD had dropped through 1.1780 lows over the last week and remained shy of breaking below 1.1750 initial support. The impulse drop 1.2010 might be complete at 1.1780 and EURUSD might be underway to produce a counter trend rally. Resistance should remain strong around 1.1900/50 handle and bears will remain poised to push lower again. Alternately, EURO could drop to 1.1750 mark from here, before producing a counter trend rally. Either way, be prepared for a bearish reversal going further. Good to sell on rallies.
Remain short, stop @ 1.2030, target remains open.
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 @ 1.2030, target remains open.
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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