The Euro Just Wants to Sell-Off: Levels for Tuesday
The EUR is still bearish despite trying to rally.
Rowan Crosby•Tuesday, December 19, 2017•1 min read
The Euro has been working its way lower over the course of the last few weeks, but it hasn’t been a really smooth ride. While there is a downtrend in place, on a number of occasions we’ve had spikes higher on an intraday level.
That’s what we saw yesterday also as price spiked up through, 1.1800 only for it to quickly do an about-face and retrace back to where it started. These are actually the types of opportunities I like to use to short, which is why knowing the important levels is so important.
I’m still focused on 1.1800 as the major area to short. I’ll also be riding the trendline lower as the week continues.
These are the key levels of interest for Tuesday’s trade.
Key Support and Resistance Levels
| Support | Resistance |
| 1.1745 | 1.1800 |
| 1.1719 | 1.1850 |
| 1.1700 | 1.1873 |
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
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.
Related Articles
Comments
Subscribe
Login
Please login to comment
0 Comments
Oldest
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals