Aurum Markets Blog Technical Analysis Breach of important price line imminent by EURUSD

Breach of important price line imminent by EURUSD

Breach of important price line imminent by EURUSD post thumbnail image

EURUSD is moving towards a line of 1.1296 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If EURUSD continues in its current trajectory, we may see it move towards 1.1296 within the next 3 days.

Supported by Downward sloping Moving Average

Target: 1.1296 Entry: 1.1387 Stop: 1.1423

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