EURUSD: Under Pressure Eyes Further Corrective Pullback!


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…


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 [...]