TECHNICAL ANALYSIS

EURUSD trades to new low


Some profit taking before the weekend

EURUSD is trading at a new daily low as the clock nears the close.

Some profit taking before the weekend

For the week, EURUSD broke past January, March and April 2018 swing lows between 1.2153 and 1.2164, but was only able to hit 1.2177 before sellers re-entered.

The day’s low found support buying near yesterday’s lows at 1.2132, but recently broke through that level and extended the days drop to 1.21119. Yesterday’s low price at 1.2100 is the next target.

Overall for the week, the week’s low came near the Monday close / open Tuesday at 1.19200. Today’s high extended to 1.2177 (around 257 pips low to high).

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