empty
 
 

2017.05.2611:10:00UTC+00Fxwirepro: Eur/usd Pauses Decline, Downside Risk Remains

  • The EUR/USD pair declined on Friday as dollar strengthened after upbeat U.S. gross domestic product data.
     
  • The U.S. economy slowed less than initially thought in the first quarter. Gross domestic product increased at a 1.2 percent annual rate instead of the 0.7 percent pace reported last month.
     
  • The dollar index, which tracks the greenback against six major rivals, was up 0.11 percent to 97.357.While euro slipped to a 1-week low of $1.1161 against the greenback.
     
  • The ongoing weakness is set to continue for this pair as the resistance level at 1.1224 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
     
  • To the upside, the immediate resistance can be seen at 1.1191, a break above this level would expose the pair to next resistance level at 1.1224.
     
  • To the downside, immediate support can be seen at 1.1159, a break below at this level will open the door towards next level at 1.1115.

    Resistance Levels

    R1:  1.1191 (50% Retracement level)       

    R2: 1.1224 (61.8% Retracement level)    

    R3: 1.1268 (May 23rd high)

    Support Levels

    S1: 1.1159 (38.2% Retracement level)                    

    S2: 1.1115 (23.6% Retracement level)

    S3: 1.1094 (May 19th lows)

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback