• Nov 28, 2024
  • Trade ideas

EURUSD: Critical Support Zone

EURUSD, H2

EURUSDH2.png

EURUSD is in a correction and retests the critical support zone at 1.0520 level.
The MACD histogram crosses the signal line downwards, however, the 200-MA will bring another layers of support for the asset, which gives mixed opportunities.

  • If the price bounces from the 1.0520, it will trigger a rise to 1.0600 resistance.
  • However, breaching below the support zone will bring the asset back to 1.0400.
TRY TRADING NOW

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

Share with friends:

Author: Timur Yurdagyul