As we mentioned earlier, the EUR managed to hit 1.1910 targets yesterday before retreating quickly
The market now faces resistance levels at 1.1910 where, as long as the market holds below it, a wave of decline towards 1.1615 will be expected
Above the 1.1910 level, the market will face other resistance areas at 1.1980 which is expected to push the market in turn towards a corrective decline towards 1.1615
The medium term view is still intact as the main resistance levels are present in the 50-1.2035 areas, where the market continues to maintain trading below it, the medium term will lead to a corrective retracement wave as mentioned above.
Support resistance
Level 1 1.1815 1.191
Level 2 1.1785 1.198
Level 3 1.17 1.2035
The market now faces resistance levels at 1.1910 where, as long as the market holds below it, a wave of decline towards 1.1615 will be expected
Above the 1.1910 level, the market will face other resistance areas at 1.1980 which is expected to push the market in turn towards a corrective decline towards 1.1615
The medium term view is still intact as the main resistance levels are present in the 50-1.2035 areas, where the market continues to maintain trading below it, the medium term will lead to a corrective retracement wave as mentioned above.
Support resistance
Level 1 1.1815 1.191
Level 2 1.1785 1.198
Level 3 1.17 1.2035