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Euro Trades Flat After Bullish Momentum Fail

Posted On 14 May 2020
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eurusd

The euro currency is trading rather flat after prices posted a modest gain intraday.

After rising to highs of 1.0896, the euro currency gave back the gains.

Price action, however, remains firm to the upside for now, trading above the 1.0818 level of support.

In the near term, EURUSD could most likely retest this level.

However, the trend line and the horizontal support will most likely keep a lid on further declines in price.

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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