EURUSD Finally Breaks Past 1.1000 Level

eurusd

The euro is trading above the 1.1000 level for the first time in two months.

The gains came about on the Eurozone stimulus.

The current gains will now see the upside rising towards 1.1132 where there is a strong chance of resistance to form.

In the near term, watch for a potential pullback to the current gains.

Forming support near 1.1000 will potentially validate the upside bias.

But for the moment, the price level near 1.1000 remains vulnerable.

A close below this level once again will put EURUSD back into its old sideways range.

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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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