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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 - Heading Lower

EUR/USD has broken the support at 1.1066 (05/05/2015 low) and is now heading to a support at 1.0820 (27/04/2015 low). Resistances lie at 1.1217 (19/05/2015 high) and at 1.1459 (15/05/2015 high).

In the longer term, the symmetrical triangle from 2010-2014 favors further weakness towards parity. As a result, we view the recent sideways moves as a pause in an underlying declining trend. Key supports can be found at 1.0504 (21/03/2003 low) and 1.0000 (psychological support). Break to the upside would suggest a test of resistance at 1.1534 (03/02/2015 reaction high).

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