For Traders

Analytical Reviews

Trend line

30.09.202011:45 Forex Analysis & Reviews: EUR/USD Under Massive Pressure

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.

EUR/USD rebound, temporary growth, seems over as the US Dollar Index increases again. We have a strong negative correlation between the USDX and the EUR/USD. When the index grows, EUR/USD drops, and when the dollar index drops, the pair increases.

The pair remains under selling pressure as long it stays under the downtrend line. EUR/USD has failed to retest the downtrend line, dropping and stabilizing under 1.17 could attract more sellers in the short term.

EUR/USD Trading Tips & Conclusion

You can sell EUR/USD if the price drops and stays below 1.17 a few days. Also, a drop below the 1.1612 former low, peak low, could bring a short opportunity. 1.15 and 1.14 levels could be used as downside targets.

Only a breakout and stabilization above the downtrend line could invalidate a larger drop and could bring a buying opportunity.

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.