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Technical update - EURUSD paving the way to parity ? Technical update - EURUSD paving the way to parity ? Technical update - EURUSD paving the way to parity ?

Technical update - EURUSD paving the way to parity ?

Forex 2 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank Group

1.21 seems to be a Pivot point for EURUSD. Breaking below last week fueled a sell off down to 1.08. Bouncing back to test the 1.1121 only to be rejected. EURUSD is likely to test 1.0725 support. If breaking below which is not unlikely testing of parity is in the cards.

Source: Saxo Group
Source: Saxo Group

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, or any of our other products work, and whether you can afford to take the high risk of losing your money. The value of your investments can go down as well as up. Losses can exceed deposits on some margin products. Professional clients can lose more than they deposit. All trading carries risk.

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