Thu, Dec 12, 2024 @ 05:44 GMT
Facebook Mail RSS Twitter
HomeContributorsTechnical AnalysisEUR/USD Pair Moved into a Bearish Zone Below $1.0880

EUR/USD Pair Moved into a Bearish Zone Below $1.0880

FXOpen
By FXOpen

The Euro started a fresh decline from the 1.0925 resistance zone against the US Dollar. The EUR/USD pair declined below the 1.0880 level to move into a bearish zone.

The price even traded below the 1.0800 level and the 50 hourly simple moving average. It traded as low as 1.0757 and is currently consolidating losses. An immediate support is near the 1.0780 level.

The next key support is near 1.0765 on FXOpen, below the pair could decline towards the 1.0720 level in the near term. Any more losses might send the pair towards the 1.0680 level.

On the upside, the pair might struggle near 1.0840. The next major resistance is near the 1.0850 level. A break above the 1.0840 and 1.0850 resistance levels could start a decent increase towards the 1.0900 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.