EURUSD: Under Pressure Eyes Further Corrective Pullback!

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Short term outlook in EURUSD has turned to the downside as long as 1.1975/1.2025 resistance holds on a 4-hour closing basis, support comes at the 1.1848 levels, a halt is likely and a reversal may occur, however; below that level sees a fall risk to the 1.1785 levels, further down, support comes at 1.1735 levels.

On the upside, resistance comes at the 1.1925 levels, above that level sees a recovery risk to the 1.1975/1.2025 where another fall is suggested…

Conclusion: The EURUSD continues to face downside threats below the 1.1975/1.2025 levels in the short term forecast…

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Further Reading

EURUSD ٌRemains Vulnerable, Faces Pullback Threats!

EURUSD ٌRemains Vulnerable, Faces Pullback Threats! Since the pair has failed to continue higher through the 1.2058 levels, a short-term resistance has been printed at the 1.2069 levels, while its immediate risk remains higher, the EURUSD will have to break and hold above the 1.2058 levels on a daily closing basis to prevent a return [...]

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