Eurusd is a majorly traded pair in Currency market. Euro is traded against dollar. This pair is majorly
active during Euro and Us Trading Sessions.It is a major tool to hedge against Gold/Silver .
EURUSD was down on Friday due continuing its downtrend. EUR PMI was lower than Expected which led
this pair to slid further.Market participants were looking for movements on Friday but there was no
significant movement as per expected from the participants.
Eurusd is finally on move after breaking through key support level of 1.2000 (Forex Signals)
Technical overview:
1.Triangle Pattern Formation- Breakout
2.Next Key-Levels to watch 1.8728
3.More Downwards Expected
4.Strong weekly support crossed
5.RSI at Mid Level
Key Levels:
|
Support
|
Resistance
|
Pivot
|
|
1.1886
|
1.2036
|
|
|
1.1830
|
1.2077
|
1.2000
|
|
1.1729
|
1.2160
|
|
Fundamental Overview:
->Us NFP was not as expected it which
lead to increase in Euro against Dollar.Though Wages rate was +ve for dollar.
->Next week Euro bank president Draghi
will speak which will be looked .
Recommendation:
We will recommend to go “Short” with the
stop loss of 1.2030 and target of 1.1890, 1.1850.
