How Low Can the Euro Go: Key Levels - Forex News by FX Leaders

How Low Can the Euro Go: Key Levels

Posted Friday, October 6, 2017 by
Rowan Crosby • 1 min read

For a while now, we have been pretty bearish on the Euro. So far this year the USD has been weak and the Euro has really been on a bullish tear. However, things are now turning.

As I mentioned in my morning preview, the Euro looks set to break down, if it can navigate its way through the 1.1700 level. If it can then look out below!

 

EUR

EUR/USD – 240 min Chart.

 

There are a few support levels that we can target:

Support

1.6650

1.6200

1.6000

 

This first order of business is to hold below the current support level at 1.1700. If we can do that then we have some great rewards on offer. But also keep in mind we have NFP tonight and that can certainly move the USD in a big way so please keep that in mind.

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About the author

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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