Being supported by the lower border of the rising price channel on 4-hour chart, EURUSD rebounded from 1.3119. Range trading between 1.3119 and 1.3261 would more likely be seen later today. Key support is now at 1.3119, as long as this level holds, the price action in the trading range is treated as consolidation of uptrend from 1.2732, and another rise towards 1.3350 is still possible. However, below 1.3119 could indicate that lengthier consolidation of uptrend is underway, then deeper decline could be seen to 1.3000 area.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
English
Español
Français
中文
Deutsch
Italiano
العربية
Sverige
Ελληνικά
Go to Profile
Mark as Read
