During Monday’s trading session, the Euro continued to seem very vulnerable. The 1.16 price level seems to be the target for the market. We should expect the market to hunt for support around 1.16 if we break below the lows of the past few days. This is an area that’s proved critical more than once. Consequently, it seems that short-term rallies will continue to display tremendous weariness that individuals will exploit. While the market is expected to exhibit some erratic behavior, it is more likely to continue to decline.
The support rests at 1.12690 with resistance at 1.12830 which the price is moving below the Pivot Point at 1.12740 located between the lines. The EMA of 10 is moving in a bearish bias in the descendant channel below the EMA of 100 and the EMA of 200. The RSI is moving in the level of 30, the MACD histogram is in negative territory and a crossover sell signal is already generated. The Stochastic is moving in low ranges. The ADX is not showing a clear signal.

• There is resistance at 1.12830, followed by resistance at 1.12880 and 1.12970.
• There is support at 1.12690 Below, there is 1.12600 and 1.12550.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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