FxWirePro: EUR/USD trades below 50% Fib levels, bearish in the short term
EUR /USD after a brief bounce, in the earlier European session has slipped sharply lower after finding resistance at 1.0945 levels. Currently the pair is approaching to test resistance level located at 1.0864. Further up…
EUR /USD after a brief bounce, in the earlier European session has slipped sharply lower after finding resistance at 1.0945 levels. Currently the pair is approaching to test resistance level located at 1.0864.
Further upside is expected to be limited as the pair faces strong resistance at 1.0910 and it is expected to decline further towards 1.0840 and 1.0770 levels in the short term.
To the upside, the strong resistance can be seen at 1.0910, a break above will take the pair towards next resistance level at 1.0945.
To the downside immediate support can be seen at 1.0820 levels, a break below will open gates towards 1.0761 levels.
Recommendation: Go short around 1.0880, targets 1.0820, 1.0750, SL 1.0945
