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  • Sunday, 16 February 2020

    The Fall of The EurUsd Explained

    The Euro Dollar currency pair has shown some very strong bearish signals in the past weeks after its initially failed to break above the 1.12000 resistance zone causing it to experience a selling of almost 400 pips in a very short period of time.


    The Euro has been majorly affected by Brexit as in mid January the Great Britain decided to leave the European Union to stand on its own as a country which will have major impacts on European businesses as Britain was a major player in Europe. The Euro and the Pound sterling have been experiencing major heavy losses as the markets are unstable in which we are much likely to see record lows in these two major pairs.

    Technically The Euro Dollar has broken a number of strong levels including 1.09400 which most mentors thought was a key level, which was really not making sense as the level did not meet with the current price action on the pair.

    The Setup below consist of the Euro Dollar analysis based on the daily chart, on the setup the key level was at 1.08767 which price was able to break on Wednesday further exposing 1.07816 which will be the 1st support for this week based on our analysis. on the support level we will wait for the formation of bullish price candles before having to make an entry

    If the markets breaks below this support we will look for a further 200pip drop on the Euro Dollar which will lead to our lowest support possible on the EurUsd which is at 1.05988, this will result on a firm break of the first support.



    We believe these setups will help you trade better and more profitably on the EurUsd this week and please use proper risk management in all your trade entries.


    Sifiso Nkwanyana

    Author & Editor

    I hope you have recieved all the information you seek and thank you once more for browsing our website we hope to hear from you soon.

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