EURUSD backs off lower prices with eyes on 1.1200 resistance as we enter a new week. Support comes in at the 1.1100 where a violation will turn risk to the 1.1050 level. A break below here will target the 1.1000 level. Further down, support sits at the 1.0950. Conversely, on the upside, resistance comes in at 1.1200 level with a violation of there opening the door for further gain towards the 1.1250 level. Further up, resistance lies at the 1.1300 level. A cut through that level will clear the way for a move towards the 1.1350 level. Its weekly RSI is bullish and pointing higher suggesting more gain. All in all, EURUSD expects more recovery higher in the new week.
Get More Power Over Your Trading With Less Hassle
FXTechstrategy delivers powerful buy/sell trade ideas with stop losses, price targets and super-easy analysis to help you improve your results
GET MORE POWER OVER YOUR TRADING WITH LESS HASSLE
The Award-Winning Analysis Solution for Forex & Commoditidy Traders
Your trading, made easier
Get 15+ super-easy trade ideas with powerful daily analysis and easy-to-understand strategy eBook
Stay on top of every move with price action to help you make easier, faster, and more accurate trading decisions.
Whether your strategy is for day trading or swing trading FXTechstrategy analysis fits in seamlessly with no hassles.