Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815

email: sales@tradersway.com

Join Us in Just 1 Minute!

متاتریدر 4
متاتریدر 5

Shallow Retracement or Breakdown on EUR/USD (April 24, 2013)

EUR/USD is currently testing the 1.3000 major psychological area, as the path of least resistance is downwards. 

After all, fundamentals in the euro zone remain very weak as the region grapples with several financial and economic challenges.

Today’s release of the German Ifo business climate report could provide a catalyst for a stronger move down as a lower figure is expected.

20130424.eurusd

The pair could still retrace to the 38.2% Fibonacci retracement level in line with a former support area. With all the negative factors weighing on the euro, a shallow retracement or a sharp breakdown could be likely.

If the pair eventually drops below the 1.3000 handle, a stronger downward trend could ensue and the next support level on the longer-term time frame is around the 1.2750 mark.

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.com
قیمت ها
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

Stellar Lumens (XLM) now accepted for deposits and withdrawals

Trader's Way accepts Stellar Lumens (XLM) for deposits and withdrawals into all trading accounts.

Learn more

2021 Independence Day Holiday Trading Schedule

Due to the Independence Day holiday in the United States, the following instruments will close at the follo...

Learn more

bob@tradersway.com