EUR/USD Trades In Sharp Fluctuations Around 1.1070
ICN.com | Jun 27, 2016 07:41AM ET
EUR/USD
EUR/USD pair is trading in sharp fluctuations around 1.1070 level, and trading below this level presented by 50% Fibonacci correction may be the reason for the extension of the downside move over intraday basis.
Today, we will need to see a breaching of 1.0935 support level to confirm bearishness over intraday basis, where stability below this level will open the door for more bearishness.
Support: 1.0755 – 1.0935 – 1.1000
Resistance: 1.1200 –1.1150 – 1.1070
Direction: negative below 1.1200, targeting 1.0940 and 1.0755, as long as trading below 1.1200.
GBP/USD
GBP is trading below 1.3515 presented of 127.2% retracement, and trading below this level may be a reason to keep the possibility of extension of the downward trend.
Target price located at 1.3105, while a breaching of this level will cause further downward trend toward the psychological barrier 1.3000 at least. Only a breakthrough of 1.3835 will weaken the potential negativity, but we would prefer to see the pair trading below 1.3680 to keep the bearishness.
- Support: 1.3300 – 1.3210 – 1.3105
- Resistance: 1.3515 – 1.3680 – 1.3835
Direction: negative below 1.3515, targeting 1.3105 and 1.3000, as long as trading below 1.3835.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.