The Euro Just Wants to Sell-Off: Levels for Tuesday - Forex News by FX Leaders

The Euro Just Wants to Sell-Off: Levels for Tuesday

Posted Tuesday, December 19, 2017 by
Rowan Crosby • 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

SupportResistance
1.17451.1800
1.17191.1850
1.17001.1873
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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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