EURUSD resistance stays at 1.1880/1.1900 levels
EURUSD has been drifting sideways before the much awaited fundamental event risk "Jackson Hols Symposium". Having said that intraday resistance remains around 1.1880/1.1900 mark. EURO is expected to hit fibonacci 0.618 retracement of its earlier drop from 1.1965 through 1.1754 around 1.1880/90 either today or tomorrow. A bearish reversal should be on cards thereafter. Ideally, 1.1965 should hold, if EURUSD bearish outlook has to prevail. Good to sell on rallies.
Remain short, stop @ 1.1970, target is 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 @ 1.1970, target is 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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