The Euro drifted below the 50-period SMA after testing a 2-month high yesterday following the release of a disappointing IFO sentiment number in Germany. A move below the 1.2070 support level may trigger an acceleration to the downside with the 200-period SMA around 1.2025 as target. However, the main trend is still up according to the daily chart, with a trade through the 1.2110 resistance to signal a resumption of the uptrend.

Support: 1.2170 / 1.1985
1.2110 / 1.2240

Risk Warning: 79% of retail CFD accounts lose money

This analysis is just part of a greater daily market report on 8+ of the hottest instruments and assets provided to all SquaredFinancial clients.

 Register for a live account and receive the daily report in full detail for free. 

Disclaimer: This information is only for educational purposes and is not an investment recommendation. The information here has been created by SquaredFinancial. All examples and analysis used herein are of the personal opinions of SquaredFinancial. All examples and analysis are intended for these purposes and should not be considered as specific investment advice. The risk of loss in trading securities, options, futures, and forex can be substantial. Customers must consider all relevant risk factors including their own personal financial situation before trading.