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 currency is extending its declines a day after price action closed flat.

However, in the near term, this confirms the downside bias. With price action now trading below the 1.1715, this once again shifts focus to the 1.1600 support level next.

But given the current market conditions, price action could just as quickly reverse direction.

The stochastic oscillator remains oversold for the moment; therefore, a reversal back is likely.

Price action will need to battle the 1.1715 level which will now likely act as resistance once again.

Overall, the EURUSD remains range-bound within the 1.1800 and the 1.1600 levels.

Test your strategy on how the euro will fare with Orbex - Open your account now. 

The post EURUSD Hits a Two-Week Low appeared first on Orbex Forex Trading Blog.

To keep reading this article, please navigate to: Orbex Forex Trading Blog.