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EURUSD Overview and Key Levels 02-04-2018

EURUSD Overview and Key Levels 02-04-2018

We are going to have a quiet trading day as Europe remains closed.

We just want to take a look at EURUSD.

The pair is still under Bearish pressure. It is below EMA 50, EMA 100 and EMA 200 of H4 Chart Timeframe.

1.23100 and 1.22980 are the next downside levels of today.

The real problem for Euro Bulls will start if it breaks below 1.22980. 1.22680 and 1.22300 will be the next targets of the pair and it will not take too much time to achieve those levels.

1.23600 remains as the main resistance and bearish pressure will continue as long as the price stays below 1.23600.

Bulls may come back to the playground after an H4 closing above 1.23600.

Since we are going to see low volumes today, the best strategy can be “wait and see. ” Or short with a stop loss above 1.23600. – We suggest you try shorts with small lots-  1.22980 1.22830 and 1.22680 are take profit levels.

DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.

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EURUSD:  Involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

 

 

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