Euro Likely To Position For Further Gains

The euro currency slipped, losing more than 0.50% on the day. However, price is being supported off the lower median line.

If price follows through above the previous highs of the 1.1133 region, then we expect further gains above the 1.1200 psychological resistance.

Further gains are expected which could see a move toward the 1.1300 region.

Alternately, if price fails to breakout higher, then we anticipate a move lower. The declines could see a move toward the 1.0787 where support will be tested.

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About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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