For Traders

Analytical Reviews

Technical analysis

07.09.201814:05 Forex Analysis & Reviews: EUR/USD analysis for September 07, 2018

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1600. Anyway, according to the M15 time – frame, I fund potential fifth point of the wolfe wave bullish pattern, which means that selling looks very risky. The level of 1.1600 provided very solid support and it is also a Fibonacci expansion 100% from the most recent activity. I also found that RSI oscillator is in the oversold zone, which is another sign of potential strength. Watch for buying opportunities. Take profit level is set at the price of 1.1657.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.