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Euro falls to a 9-year low against the dollar

the euro changed its trend from sideways to down on 4-hour chart. Current support lies at 1.1778$, second support is 1.1639$ and the main support lies at 1.1375$. In Jan.5 the euro opened which downward gap which is a strong sell signal. The recent price peak failed to reach the middle boundary of the Bollinger Bands which confirms the price weakness. The RSI indicator is still trading in its oversold area which signals more losses. The stochastic indicator failed to reach its middle line which is also a sign of weakness.  On the upside, current resistance stands at the area between 1.1958$ &1.1999$, second resistance is in the area between 1.2069$ &1.2353$ and the main resistance stands at the area between 1.2476$ &1.2631$.

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Amana Capital Group is a Financial Services Group specialized in providing brokerage services in international financial markets namely currencies, commodities, and stock indices. The Group operates several entities regulated and authorized by reputable regulatory bodies.

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