For Traders

Analytical Reviews

Trend line

12.10.202014:16 Forex Analysis & Reviews: EUR/USD Temporary Retreat?

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 is traded lower at 1.1792 level, but this could be only a temporary decline. The rate has managed to jump and stabilize above the downtrend line signaling a potential leg higher, upwards movement.

It has decreased to test the former high before resuming the swing higher. The critical support stands at 1.17 psychological level, so the bias will remain bullish as long EUR/USD is traded above it.

The next upside targets are seen at 1.19 and 1.2 levels. A new higher high, jump above 1.1831 could bring a long, buying, opportunity.

EUR/USD Trading Tips

Buy if EUR/USD reaches the 1.1840 level. The immediate target is represented by the 1.19 psychological level.

Sell from below 1.17 with a downside target at 1.14 psychological level.

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.