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EUR/USD Go and Keep attention on 1.1170 – UOB

The EUR/USD pair could test the 1.1170 that will support and decline the level that will subsequently go to the highest level at 1.1254 and quickly dropped to the 1.1175 (-0.25%) in the last 24 charts.

By reaching the downward trends the weakness in EUR is not showing the sign of the stabilizing. It will drift to the lower at the 1.1145. The resistance level will be reached at 1.1235.

In the last 1-3 weeks, the pair will yesterday highlighted with the spot of 1.1245 that will follow the downward pressure and the EUR will still in the 1.1170/1.1380. EUR/USD will close below the 1.1170  and pullbacks to the 1.1202 yesterday with the (-36%) and closes below the 1.1170 and further weaken to  the 1.1100.

The chances for such a situation are not high for the present but rather would increment rapidly except if EUR can move above 1.1280 inside these 1 to 2 days.”

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Jeffrey Halley

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