Short

EURUSD: Risk Remains To The Downside On Pullback

EURUSD: With the pair continuing to hold on to its downside pressure, further bearishness is likely. Resistance comes in at 1.1150 level with a cut through here opening the door for more upside towards the 1.1200 level. Further up, resistance lies at the 1.1250 level where a break will expose the 1.1300 level. Conversely, support lies at the 1.1150 level where a violation will aim at the 1.1100 level. A break of here will aim at the 1.1050 level. All in all, EURUSD faces further downside threats.

Strategy: Sell at 1.1196, Stop loss at 1.1265, Stop loss at 1.1096 & 1.1050

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