FX Trading Idea – EUR/USD

EUR/USD broke below 1.0900. It is the at the lowest in 2 years. Where is the support now for the EUR/USD? How far lower can it go?

MACD is bearish at the moment. It means EUR/USD can go still go lower. The next level is the gap from April-May 2017. The gap is from 1.0840 down to 1.0775. There is another support point at 1.0815. The single currency is likely to test this gap in the next couple of days.

Look to sell 1.0900 for 1.0840 or 1.0815. Stop should be placed above 1.0945.

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