I think the dollar is stepping in to finish eur off for the day.
EURUSD: 1.1675 Is the Level to Watch
On Monday I wrote that the EURUSD looked vulnerable despite recent gains. The single currency was beginning to lean heavily on an intraday support level and was also having trouble moving above resistance at 1.1830. That 4-hour ascending channel broke down just hours after Monday’s commentary. And despite some strength during yesterday’s session, the EURUSD is selling off aggressively from, you guessed it, the 1.1830 handle. Now, this is where we need to go back to a level I mentioned Sunday. I also pointed it out as support in the June 4 post. There is a trend line that extends from the 2017 low that is under pressure as I ... (full story)
- Posted: Jun 14, 2018 1:17pm
- Submitted by:Category: Technical AnalysisComments: 21 / Views: 2,600