Technical Analysis

EURUSD trades to new lows into the London fix

Tests swing area over the last few days

The EURUSD trades to new lows into the London fix and in the process has moved to test a swing area at 1.18487 to 1.18515. On Wednesday, the low based twice in that area.  On Thursday, the price fell below and found intraday sellers against the area before breaking higher in the NY afternoon session. Earlier today, the price stalled in that area. Follow the red numbered circles in the chart below and yellow area. 

A move below now should solicit more selling.  Key test into the London fixing at the top of the hour. 

For bank trade ideas, check out eFX Plus

Products You May Like

Articles You May Like

Forexlive Americas FX news wrap: Dollar slumps in post-Turkey day hangover. Gold below $1800
GBPUSD falls below its 200 hour moving average and swing level
MUFG trade of the week: Staying short USD/CHF
USDCHF test 0.9000 level and technical trend line support on the hourly chart
US crude oil futures settle at $45.53

Leave a Reply

Your email address will not be published. Required fields are marked *