ALB Limited 16.11.2020

Chart of the Day EUR/USD Wall of Selling as Euro Tests 1.1865




A wall of selling greeted the euro when it poked above $1.19 last week. Follow-through selling saw it dip below $1.1750 in the middle of the week before new buying emerged. It finished the week above the midpoint of the $1.16-$1.20 five-month trading range. The MACD is slowly rising from its trough, the Slow Stochastics have turned down. The resistance at $1.1835-$1.1845 got breached on morning trading but 1.1865 still posses a big resistance for the Euro bulls with major rejection.

Tags: Chart of the Day, EURUSD, Euro, Video Analysis

RISK PROBABILITY: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.40% of retail investor accounts lose money when trading CFDs with ALB Limited. These products may not be suitable for all investors. Please make sure that you fully understand the risks involved and seek independent advice if necessary. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The value of your investment may go down as well as up.

NEGATIVE BALANCE PROTECTION: Please see your rights here as a retail client.