Currently, EUR/USD is trading at 1.1035 moving towards its neckline, from last week this pair is in an uptrend and after rebounding from its it is about to break the neckline. If it breaks the neckline at 1.0977, pair may enter into a new downtrend and then the next support which is at 1.0878 will be its first target.
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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.