Need to close below 1.1300 to open next leg further lower

61
The technical landscape has not changed since mid- August. We still believe 1.1300 is the critical level to focus ahead of the US data and event risk.

EURUSD should lead to the downside with a move below 1.1300 (weekly closing) to its last leg towards 1.1200/1.1170 and 1.1100. Whereas, the risk surrounding the 200MA(weekly) can still be gauged as neutral.

The flip side, resistances located at 1.1425 and 1.1460. A move above the last hurdle would point to a new acceleration of the uptrend towards 1.1500 and 1.1550 initially.

The daily indicators are still very upbeat on top of it the price action traced out a double bottom at 1.1300.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.