The Euro initially pulled back on Monday, hitting our support level at 1.1740, before reversing and rising significantly higher despite holiday-thinned trade and a better-than-expected US ISM Services PMI. The Euro of course continues to look very weak longer-term, unless the bulls manage to break above resistance at 1.1820 and more importantly the 200-day SMA around 1.1830.
Support: 1.18 / 1.1763
Resistance: 1.1820 / 1.1830
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.
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.