HomeContributorsTechnical AnalysisEURUSD Halts Weakness, Eyes More Gain

EURUSD Halts Weakness, Eyes More Gain

EURUSD faces risk of further upside pressure after closing higher on Friday. On the down, support comes in at 1.1750 level with a violation opening the door for a run at the 1.1700 level. Further down, support is seen at the 1.1650 level. A cut through that level will clear the way for a move towards the 1.1600 level. On the upside, resistance stands at the 1.1850 with a break of that area turning risk towards the 1.1900 level. A move above here will target the 1.1950 level. Further up, resistance stands at the 1.2000. All in all, EURUSD looks for more upside pressure on further correction

Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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