This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The euro was back near the 1.1261 level on Tuesday. But prices failed to make any major gains beyond this level.
As a result, we have a double bottom pattern near the 1.1192 level. If there is a successful breakout, we expect the gains to push the euro back to the 23 June highs near 1.1347, with a possible move even higher.
But for now, the bias remains mixed. If the euro loses the 1.1192 handle, we expect a drop toward the previous lows at 1.1171 followed by a test of 1.1132 level of support.
To keep reading this article, please navigate to: Orbex Forex Trading Blog.