EUR/USD had a failed breakout above 1.1740 earlier in Europe after which it lost almost a 100 pips to the downside. After it made a daily low at 1.1649, prices remained contained below 1.1672 which is now acting as near-term resistance. The bears are quite strong and EUR/USD should progress lower as long as it stays below 1.1672 and 1.1700 resistances. The idea of bull breakout above 1.1740 seems at the moment unlikely unless a fundamental catalyst shocks the market. Bear targets are seen near 1.1640-1.1649 area and 1.1613, last week’s low. EUR/USD 15-minute chart Spot rate: 1.1657 Relative change: -0.42% High: 1.1745 Low: 1.1649 Trend: Bearish Resistance 1: 1.1672 June 27 high Resistance 2: 1.1700 figure Resistance 3: 1.1730-1.1740 area, 23.6% Fibonacci retracement from mid-April-May bear move and last week’s open. Resistance 4: 1.1790 last week’s high Resistance 5: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move Support 1: 1.1640-1.1649 area, key level and July 12 low Support 2: 1.1613 last week’s low Support 3: 1.1600 figure Support 4: 1.1560 June 14 low Support 5: 1.1508 current 2018 low 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 WTI extends losses below $67 in post-settlement trade after API shows surprise build in crude stocks FX Street 5 years EUR/USD had a failed breakout above 1.1740 earlier in Europe after which it lost almost a 100 pips to the downside. After it made a daily low at 1.1649, prices remained contained below 1.1672 which is now acting as near-term resistance. The bears are quite strong and EUR/USD should progress lower as long as it stays below 1.1672 and 1.1700 resistances. The idea of bull breakout above 1.1740 seems at the moment unlikely unless a fundamental catalyst shocks the market. Bear targets are seen near 1.1640-1.1649 area and 1.1613, last week's low. EUR/USD 15-minute chart … Regulated 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.
