Sun, May 19, 2024 @ 10:15 GMT
Facebook Mail RSS Twitter
HomeContributorsTechnical AnalysisEUR/USD Pair Started a Fresh Decline Below 1.1500

EUR/USD Pair Started a Fresh Decline Below 1.1500

FXOpen
By FXOpen

The Euro gained pace above the 1.1420 level against the US Dollar. However, the EUR/USD pair struggled below the 1.1500 level and started a fresh decline.

There was a move below the 1.1420 level the 50 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near 1.1415 on the hourly chart. A low was formed near 1.1377 on FXOpen and the pair is now consolidating losses.

An immediate resistance near the 1.1405 level. The next major resistance is near the 1.1425 level. A break above the 1.1420 and 1.1425 resistance levels could start a decent increase towards the 1.1465 level in the near term.

On the downside, an initial support is near the 1.1380 level. The next key support is near 1.1350, below the pair could decline towards the 1.1315 level in the near term.

FXOpen
FXOpenhttps://www.fxopen.com/
FXOpen is a global Forex and CFD Broker, founded in 2005 by a group of traders. With over 16 years of experience, the company has gained an excellent reputation a major brokerage that continues to expand rapidly. The broker offers a choice of platforms, including the popular MT4 and MT5 platforms, with a wide range of trading instruments with spreads from 0.0 pips: 600+ FX, index, share, commodity and cryptocurrency CFDs. FXOpen also provides its own PAMM technology, allowing clients to benefit from the strategies of experienced traders with a proven track record of successful trading and guarantees automatic distribution of profit and loss between the strategy provider and the strategy followers. CFDs are complex instruments and come with a high risk of losing your money. PAMM is only available in certain jurisdictions. Cryptocurrency CFDs are not available to Retail clients at FXOpen UK.

Featured Analysis

Load more

Learn Forex Trading

ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward.

Contact us: contact@actionforex.com

© ActionForex.com © 2024 All rights reserved.