18 Nov

EURUSD Retreats After Edging Closer To 1.1900

November 18, 2020

By Orbex

The euro currency is trading weaker following a steady intraday gain.

Price rose to highs of 1.1893 before pulling back after nearing the 1.1900 level.

If price continues to push lower, then the lower high could signal a shift to the trend.

For now, the 1.1800 level remains critical for the EURUSD. A close below the 1.1800 support would mean further declines to the 1.1715 level.

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The bias remains mixed at the moment, despite the Stochastics oscillator pushing down from the overbought levels.

We could expect the declines to stall near the support area of 1.1850 for the moment.

By Orbex


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