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EURUSD Holds Steady Above 1.1800

Posted On 25 Nov 2020
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eurusd

The euro currency managed to recover from the declines on Monday. Price action made a quick recovery after testing the lower support near 1.1800.

However, the upside gains are stalling near the trend line. This could keep price action contained for the moment.

Only a strong breakout above the trend line will see further gains coming.

But the resistance level of 1.1900 is also weighing on the common currency.

As a result, we could expect the EURUSD to hold on to its sideways range for the moment between 1.1900 and 1.1800.

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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