#EURUSD @ 0.99764 to suffer additional losses if 0.9950 support fails
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
EUR/USD has declined below parity at the beginning of the week. As FXStreet’s Eren Sengezer notes, near-term technical outlook points to a buildup of bearish momentum.
“0.9950 (lower limit of the one-week-old range, static level) aligns as initial support. If this level turns into resistance, EUR/USD could slide toward 0.9900 (psychological level) and 0.9865 (September 6 low).”
“On the upside, 1.0000 (psychological level, 100-period SMA) forms significant resistance. In order to extend its rebound, the pair needs to stabilize above that level. In that case, 1.0030/40 (Fibonacci 50% retracement of the latest uptrend, 50-period SMA) and 1.0070 (200-period SMA, Fibonacci 38.2% retracement) could be targeted.”
[/s2If]
Join Our Telegram Group
