01 Oct

EURUSD Maintain Downside Pressure

admin Forex Technical outlook 0 Comments

After the Third Quartely end as well as positive US consumer sentiment data increased EURUSD Bearish pressure.Yesterday EURUSD hour one up trend support has broken and take resistance immediately at 1.1236.

On the Downside, EURUSD focus supporting level near by past hour 4 downtrend support (resistance became support concept) as well as past Sep 9th low level at 1.1114, if break this area we will expect to continue bearish momentum up to 1.1019. I think the EURUSD will reverse or take breathing at this level, because this area has three strong support's (last 6 month's uptrend support, Aug 18th low and also 1.1000 round number).

On the Upside, nearby resistance at sep 29th high 1.1282, next round number 1.1300.

Support       : 1.1114, 1.1019, 1.0844

Resistance: 1.1282, 1.1300

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