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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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EUR/USD: Fading Close To Its Key Resistance Area

EUR/USD is showing signs of weakness near its key resistance area between 1.3832 (25/10/2013 high, see also the long-term declining trendline) and 1.3893. Hourly supports can be found at 1.3694 (28/02/2014 low) and 1.3643.

In the longer term, we favour a broad horizontal range between 1.3296 (07/11/2014 low) and 1.3893 (27/12/2013 high). However, monitor the potential ascending triangle formation. Another strong resistance lies at 1.4247 (27/10/2011 high).

Daily Technical Report

 

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