Trading Conditions
Products
Tools
EURUSD is showing signs of weakness. EURUSD justifies a pull back towards the medium-term upward sloping trend line support, specially if price breaks below the horizontal support at 1.1720-1.17.
Blue rectangle- support
Green line - medium-term trend line support
Red rectangle -target if support fails to hold
I expect EURUSD to move towards the red rectangle on top of the green support trend line if and after price breaks below the blue rectangle support area at 1.17. The failure to make a higher high increases the chances of making a deeper pull back. That is why breaking below 1.17 would a be fast short-term sell signal with 1.16-1.1570 as target.
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.