EUR/USD Price Forecast – Euro falls into support on Thursday

The Euro fell towards the 1.1650 level during trading on Thursday, after initially having a relatively flat session. This may have been in reaction to the ECB meeting minutes, but at the end of the day it’s also likely that it had more to do with a simple pull back.
Christopher Lewis
EUR/USD daily chart, July 13, 2018

The EUR/USD pair has initially gone sideways during the trading session on Thursday, but then pulled back slightly to test the 1.1650 level. This is an area that has been support more than once, and I think at this point that the buyers are going to be interested in this region, assuming that things stay the same. If we do break down from here, I believe that the 1.16 level and then of course the 1.15 level will offer a lot of interest. I think that this market continues to be very choppy and erratic, but it’s possible that we could get headlines that move the markets yet again, as there are a lot of headlines out there that people are paying attention to.

Overall though, I think that there is an opportunity for value hunters to step into this market place if we can get some type of stability. I believe that’s coming, and eventually we could turn around and break above the 1.17 level. A break above that level opens the door to the 1.1850 level, the top of the overall consolidation that we had seen over the last several weeks. A break above that level would then open the door to the 1.20 level, which obviously has a lot of psychological importance, and has shown massive structural importance in the past. I am bullish, but slightly so as there are so many concerns with trade tariffs and the like.

EURUSD analysis Video 13.07.18

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US