This is the Level to Watch in the Euro Today

We’ve had a bit of strength coming back into the EUR/USD in today's trading. Overall the trend is certainly to the downside and I think it’s just a matter of time until we take out the recent lows and continue a longer-term move lower.

Today there is a big level that I am watching closely – 1.1850. At that point there is a clear resistance level that has been in play for a while now, however on top of that there’s also the 200-SMA which we can see has been one that price has been responding to.

I think that 1.1850 is a good opportunity to sell, for both a scalp today as well as an entry point for a long-term move. Remember we have a current short position open and you can follow it live on our forex signals page.

EUR/USD – 240 min Chart.

ABOUT THE AUTHOR See More

Rowan Crosby

Asia-Pacific Analyst

Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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