EUR/USD Weekly Analysis – Saturday, Dec. 1

EUR/USD moved sideways in a trading range between 1.1215 and 1.1500. As long as 1.1500 resistance holds, the downside movement from 1.1815 could be expected to resume and a breakdown below 1.1215 support could trigger further downside movement towards 1.1100.

On the upside, a breakout of 1.1500 would suggest that the downside movement had completed at 1.1215 already, then the pair would find the next resistance level at around 1.1700.

EURUSD daily chart

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.