Forex Marketz Daily Forex News – Fully Markets Update
The Euro continues to sink against the U.S. Dollar. Price is trading just above the key technical support level at 1.31 with the next support level lining up at 1.3065.
A break below 1.3065, especially with a daily close, targets could then target 1.3015. We need a close above 1.3150 to signal a reversal and possible bottom in place. If that happens we could run back up to 1.32 then 1.3205.
Traders should be looking at placing stop losses near support lines like 1.31 then 1.3065 and 1.3050 to help with locking in some profits. Any recovery higher should be limited at 1.3580, so adjust strategy accordingly if we push above 1.3150.
