EURUSD Flirts Past Mid 1.1800 Following the Rebound From Friday Lows
Login

EURUSD Flirts Past Mid 1.1800 Following the Rebound From Friday Lows

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

EURUSD Price Analysis – July 5

After recovering at the critical 1.1807 low level, the EURUSD re-entered the mid 1.1800 area, touching the downward moving average (MA 13) on a daily. The US dollar recovers amid a mixed market attitude, while EURUSD is maintaining the lower ground past 1.1850. In the face of a poor Caixin Chinese Services PMI, the pair reverses gains fueled by the NFP.

Key Levels
Resistance Levels: 1.2050, 1.1975, 1.1900
Support Levels: 1.1807, 1.1740, 1.1704
EURUSD Long term Trend: Ranging
Technical indicators are pointing to a possible good near-term trading outcome. The RSI has risen above the oversold zone, but the moving average 5 and 13 has remained strong towards the negative territory. If the price fails to break through the MA 5, it could drop to 1.1740, which has been a difficult level to breakthrough in the last month.

Lower, support might be located around the 1.1704 level, with a break triggering a deeper sell-off towards 1.1625. Furthermore, the bulls would have to break through the support turned resistance of 1.1900 to return the market to a bullish medium-term trajectory. To summarize, the prognosis remains neutral, and traders should wait for a clear upside rise.
EURUSD Short term Trend: Bearish
Following the withdrawal from the 1.1975 level, EURUSD’s corrective downward could extend to new lows beneath the 1.1800 levels until the 1.1750 level’s contention field is reached. The EURUSD intraday bias remains in a range as the prior rebound from 1.1807 continues, albeit weakly.

A break of the 1.1900 level, on the other hand, might show that the consolidation from the 1.1807 level is likely to continue from 1.1870. A further climb is likely, with the 1.1975 high level being retested. Meanwhile, a breach of the 1.1807 support level might shift the bias to the downside, widening the range and ushering in a new period of decline.

NoteLearn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News