Euro Posts A Higher Low – Can It Rebound Higher?

The euro currency is giving back some of the gains following the strong rally in the past few sessions.

After rising to a local high of 1.0903, price retreated slightly lower. This has formed a higher low as a result.

If price breaks out above the 1.0903 level, then we expect a move higher.

The next main target is seen in the 1.1030 – 1.1055 regions. If price fails to breakout, then we expect a move lower to the support area of 1.0787.

Won't your trader friends like this?
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.

Leave a Reply