As the Euro Falls these are the Important Levels - Forex News by FX Leaders

As the Euro Falls these are the Important Levels

Posted Wednesday, December 13, 2017 by
Rowan Crosby • 1 min read

The Euro has been a really poor performer this week as it continues to make its way lower. That said it’s been a great trade for followers of our forex signals. We collected a number of winners yesterday all featuring a short EUR position.

I feel that a big part of the move was thanks to the Greenback grinding higher in the opposite direction. It’s been lifted by the looming rate hike and also the tax cuts on the horizon.

Yesterday the EUR/USD sold off and bounced right off the 1.1723 support level. I think there might be more to come but I don’t want to be taking any longer-term trades prior to the FOMC.

However, if we crack 1.1700 we are well and truly back into bear territory.

Key Support and Resistance Levels

SupportResistance
1.17231.1787
1.17001.1800
1.16511.1850
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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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