On the other hand, a possible turn to the upside might be expected as 1.1380 was good enough for bulls to buy the dip and hold for a first target at 1.1460.
Chart: EUR/USD D1
Monday, May 9, 2016
Off To a Steep Start
The EUR/USD is trading lower in the early trading hours of the European session. The pair opened at a price of 1.1415 and is currently trading at 1.1397 with a low of 1.1380. However, it seems close to first support zone at 1.1375 and if this level fails to hold the bears, then we might see an attempt to go to 1.1300.
On the other hand, a possible turn to the upside might be expected as 1.1380 was good enough for bulls to buy the dip and hold for a first target at 1.1460.
Chart: EUR/USD D1
On the other hand, a possible turn to the upside might be expected as 1.1380 was good enough for bulls to buy the dip and hold for a first target at 1.1460.
Chart: EUR/USD D1
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Good point. I'll keep a close eye on it.
ReplyDeleteGood analysis, I will watch those levels.
ReplyDeleteThanks for such an informative analysis.
ReplyDeleteTaking note of key levels to keep track and follow up.
ReplyDeleteGreat take on markets today.
ReplyDeleteInformative, thank you!
ReplyDeleteLet's see what's going to happen next week when we have FOMC minute on Wednesday.
ReplyDelete