Forex Trading Library

Euro rebound could stall, but more gains to come

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The euro currency is up over 0.90% intraday on Tuesday. The gains come following the common currency holding on to the support at 1.0787 level.

The Stochastics oscillator is hinting a possible pullback. If a higher low forms, there is scope for the euro to accelerate the gains.

The next main target to the upside is the resistance level at 1.1030, formed from the 18th March highs.

To the downside, the single currency is likely to stall at the support area of 1.0787 if it fails to form a higher low.

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