For Traders

Analytical Reviews

Technical analysis

21.09.202016:34 Forex Analysis & Reviews: EURUSD gets rejected at key short-term resistance

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.

In a previous analysis EURUSD has shown us bearish signs by breaking out of the bullish channel. Bulls have tried to push price back inside the channel but price got rejected at key short-term resistance at 1.1860.

Blue lines - bullish channel

Red line - resistance

Pink line - support

EURUSD is now out of the bullish channel, below the pink line support and got rejected at key resistance trend line. Everything points now to a deeper pull back towards 1.1685 and maybe lower towards 1.15-1.1550. As long as price is below 1.1870 we are short-term bearish looking for a move towards 1.16.

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.