EUR/USD reverses the initial optimism and drops sharply below 1.18. Initial contention now emerges around monthly lows in the 1.1740/35 band. EUR/USD drops to fresh 2-day lows in the sub-1.1800 area at the beginning of the week quickly eroding the optimism seen during the Asian trading hours. A deeper pullback is not ruled out just yet and could initially target the monthly lows in the 1.1740 region ahead of the more relevant contention zone near 1.17, where converge late August lows and a Fibo level (of the 2017-2018 rally). The 55-day SMA, today at 1.1722, also reinforces this critical juncture. Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1223. EUR/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD continues to push lower toward 0.6700 on broad USD strength FX Street 1 year EUR/USD reverses the initial optimism and drops sharply below 1.18. Initial contention now emerges around monthly lows in the 1.1740/35 band. EUR/USD drops to fresh 2-day lows in the sub-1.1800 area at the beginning of the week quickly eroding the optimism seen during the Asian trading hours. A deeper pullback is not ruled out just yet and could initially target the monthly lows in the 1.1740 region ahead of the more relevant contention zone near 1.17, where converge late August lows and a Fibo level (of the 2017-2018 rally). The 55-day SMA, today at 1.1722, also reinforces this critical juncture.… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
