Forex4you - Analytics

    Forex4you

    551.50 6.50/10
    60% of positive reviews
    Real

    EUR/USD: below monthly pivot and pushing lower

       
    Not much change here: the pair is still, on balance, in a short-term down-trend, despite Monday’s recovery rally making higher highs.

    With the new month the monthly pivot points have shifted higher, resulting in the Monthly Pivot repositioning at 1.1154. This is also the current trading level of the exchange rate, which has been pushing up against the pivot, which has been exerting resistance.

    This may be the final ‘kiss goodbye’ before the pair moves lower and so provides a useful potential low risk entry point for a short trade.

    Alternatively, for stronger confirmation I would want to see a break below the support and resistance line at 1.1047, leading to a move down to a target at the 1.0954 lows.
    EURUSD01

       
    Not much change here: the pair is still, on balance, in a short-term down-trend, despite Monday’s recovery rally making higher highs.

    With the new month the monthly pivot points have shifted higher, resulting in the Monthly Pivot repositioning at 1.1154. This is also the current trading level of the exchange rate, which has been pushing up against the pivot, which has been exerting resistance.

    This may be the final ‘kiss goodbye’ before the pair moves lower and so provides a useful potential low risk entry point for a short trade.

    Alternatively, for stronger confirmation I would want to see a break below the support and resistance line at 1.1047, leading to a move down to a target at the 1.0954 lows.
    EURUSD01


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree