Hey guys,
This is my long-term outlook for the EURUSD pair. The green bar used to be the demand zone, but we can the price has broken through this area and we see this pair moving lower. The arrows indicate what I think would happen over the next few weeks.
Current Support : 1.070s ---- I'm thinking we might see some closings of short positions around this area and bounce back to about 1.0903s; However, if the price do not hold this level we could be looking at 1.050s.
DISCLAIMER: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. 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 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.
This is my long-term outlook for the EURUSD pair. The green bar used to be the demand zone, but we can the price has broken through this area and we see this pair moving lower. The arrows indicate what I think would happen over the next few weeks.
Current Support : 1.070s ---- I'm thinking we might see some closings of short positions around this area and bounce back to about 1.0903s; However, if the price do not hold this level we could be looking at 1.050s.
DISCLAIMER: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. 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 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.