Forex Brokers Award 2021
Vote your favourite broker

Euro Breaks Out To 2-Week High

May 20 2020, 02:03 PM (BDT) |

The euro is building upon the dollar weakness as price broke out to a two-week high intraday before pulling back.

This upside move now invalidates the head and shoulders pattern that we were watching.

Price is reversing well before testing the 1.1000 level of resistance.

This could suggest that further gains might be in store. But, a lot will depend on this current pullback.

The minor support area is identified in the 1.0885 – 1.0879 region.

If price reverses at or near this level, we expect the common currency to potentially breakout above 1.1000 eventually.

At Orbex, the client is at the heart of everything we do and everything we do is designed to guarantee your satisfaction. Here’s how Forex Trading with Orbex will enhance your trading experience: Best-in-class customer service, including live chat and free webcall One-hour response time for sales and support requests Multiple asset trading and ECN accounts on MT4 0.9 pip fixed spread at ZERO commission Up to 1:500 leverage