Currently set to Index
Currently set to Follow

EURUSD Gains but Watch the Hidden Bearish Divergence

0 158

The euro currency snapped strongly above the 1.2050 level, but price action formed a lower high.

The hidden bearish divergence on the chart could, however, see prices pushing lower.

To the downside, the euro currency is forecast to push down lower to the 1.2050 level of support.

If price breaks down below this level, then we expect further downside.

The previous low near 1.1953 will however need to crash lower to continue the downtrend.

But the support level near 1.2050 level will act as the line in the sand.

Test your strategy on how the euro will fare with Orbex - Open your account now. 

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.