Currently, EUR/USD is trading at 1.1293. The pair is trading in an up trend from 18th May and now the pair is consolidating after rebounding back from the resistance zone . The pair may start a new down trend if it breaks the support level at 1.1243. The price may consolidate for a longer time to come in a down trend. If it breaks the support level then its first target will be at 1.1070 and the second target at 1.0964.
Do follow us for future Forex trend analysis.
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.