EUR/USD: Today’s Major Levels 1.0991 and 1.0899

29 / 12 / 2015 | Technical Analysis
North American Session
The EUR/USD pair has been oscillating since the 23rd of December 2015, with the price travelling between the levels of 1.0991 and 1.0869.

During the course of the day on Tuesday, the pair consolidated between the levels of 1.0992 and 1.0956. Today, the pair kept moving on the sidelines initially to subsequently dive aggressively down to 1.0899, testing the 1.09 handle, after the release of upbeat U.S. consumer confidence and goods trade deficit data. In the event that the sellers keep forcing the pair lower and the price breaks below 1.0899, the pair could decelerate down to 1.0869 and 1.0794 in extension.

Alternatively, in the scenario where the price attempts to bounce back up and breaks above 1.0938, the pair could escalate up to 1.0991 and 1.1008 respectively.  

Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.


Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.69% of retail investor accounts lose money when trading CFDs with AFX Capital Markets Ltd. 66.36% of retail investor accounts lose money when trading CFDs with AFX Markets Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The Cyprus Securities and Exchange Commission announces that the authorisation of the Cyprus Investment Firm AFX Capital Markets Ltd (‘the Company’), number 119/10, that operate the website is suspended in whole. For further details about the suspension click here.
The Financial Conduct Authority has notified AFX Markets Ltd, FRN: 560872 that must close all open trading positions held by it, whether on its own account or on accounts of its clients by no later than 7 August 2019. For further details click here.