EURUSD moves to new session low's

The EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term has moved to a new session low and in the process has taken out double bottom from yesterday near 1.1056.

The price has moved down to test a downward sloping trendline connecting recent lows on the hourly chart. That level currently comes in at 1.1039. The low price just reach 1.10369 and has bounced. The current prices trading at 1.1049.

Traders will now watch the lows from yesterday near 1.1057 as close intraday risk. Stay below, and the sellers remain in firm control, and more downside momentum can be expected.