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EURUSD Retreats After Edging Closer To 1.1900

Posted On 18 Nov 2020
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eurusd

The euro currency is trading weaker following a steady intraday gain.

Price rose to highs of 1.1893 before pulling back after nearing the 1.1900 level.

If price continues to push lower, then the lower high could signal a shift to the trend.

For now, the 1.1800 level remains critical for the EURUSD. A close below the 1.1800 support would mean further declines to the 1.1715 level.

The bias remains mixed at the moment, despite the Stochastics oscillator pushing down from the overbought levels.

We could expect the declines to stall near the support area of 1.1850 for the moment.

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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