EURUSD to stall near previous resistance?
EURUSD - 24h expiry
Continued downward momentum from 1.1053 resulted in the pair posting net daily losses yesterday.
There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 1.1008. Intraday, and we are between bespoke support and resistance 1.0860-1.0988.
There is scope for mild buying at the open but gains should be limited.
Economic figures could adversley affect the short term technical picture.
We look to Sell at 1.0988 (stop at 1.1023)
Our profit targets will be 1.0902 and 1.0882
Resistance: 1.0978 / 1.0988 / 1.1050
Support: 1.0940 / 1.0860 / 1.0837
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Continued downward momentum from 1.1053 resulted in the pair posting net daily losses yesterday.
There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 1.1008. Intraday, and we are between bespoke support and resistance 1.0860-1.0988.
There is scope for mild buying at the open but gains should be limited.
Economic figures could adversley affect the short term technical picture.
We look to Sell at 1.0988 (stop at 1.1023)
Our profit targets will be 1.0902 and 1.0882
Resistance: 1.0978 / 1.0988 / 1.1050
Support: 1.0940 / 1.0860 / 1.0837
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
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