Euro chart positioning is little-changed from last week’s setup. Prices are idling between resistance in a congestion area capped at 1.1378 and a rising trend line guiding the shallow rebound from last week’s lows. A daily close below this barrier would speak to downtrend resumption, exposing support below the 1.12 figure.
Alternatively, reclaiming a foothold above 1.1378 may set the stage for another run at resistance clustered around the 1.15 mark. Making the case for upside follow-through probably demands still-greater conviction however, calling for a return north of 1.17.
Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.
Alternatively, reclaiming a foothold above 1.1378 may set the stage for another run at resistance clustered around the 1.15 mark. Making the case for upside follow-through probably demands still-greater conviction however, calling for a return north of 1.17.
Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.