EURUSD moves lower following yesterday’s bearish price action

By | May 14, 2020
EURUSD moves lower following yesterday's bearish price action

Relevance up to 08:00 2020-05-15 UTC–5

Yesterday I noted how EURUSD got rejected once again and the inability to recapture 1.0880-1.09 could lead price lower. Support was at 1.0845-1.0830 and failure to hold this level, would price below 1.08 as I explained yesterday.


Red rectangle -resistance

Green rectangle – support

EURUSD is trading below 1.08 once again as expected. Price action showed vulnerability signs. Bulls were not strong enough to break resistance at 1.09. Now there is a big test ahead for bears. Will they be strong enough to break below the green support area? If yes then I expect to see EURUSD push towards 1.0650 and lower over the next few sessions.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Alexandros Yfantis,
Analytical expert
InstaForex Group © 2007-2020

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