As we are in the third day of this week, EURUSD is moving between 1.1290 and 1.1320 which is a critical band. The weakness of USD Index is making less bearish pressure on EUR/USD. With this, EUR/USD is now currently 1.12525 as we are writing this article.
Technically, EUR/USD is under a bullish pressure above 1.1130 support level. If it stays over this level for a while, EUR/USD will try to get over the critical area which is the 1.1290 – 1.1320 band. Traders to be in SELL position should wait for the possible reversal from 1.1290 – 1.1320. Before that SELL posisitons would be too risky.
The USD Index Chart
Always use stop loss in forex trading. Follow the tre nd and create your own strategy. Update your strategy every time if fails. Don’t trade as you were gambling. Forex trading is too dangerous if you don’t follow a liable strategy and if you are over trading.