For Traders

Analytical Reviews

Technical analysis

22.07.202109:17 Forex Analysis & Reviews: EUR/USD Continuation Or Reversal?

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 increased and now is almost to reach the downtrend line. Passing above it could signal that the downside movement is over and that the pair could register an important growth.

It remains to see how it will react after reaching the downtrend line. You can see that the downtrend line acts as dynamic resistance, it has rejected the price. Technically, a larger decline will be confirmed by a potential drop below 1.1765 static support, former low.

Forecast!

Jumping above the downtrend line could signal a potential growth towards the 1.1877 high. A larger growth could be signaled by a breakout above this level.

You can sell EUR/USD if the price drops below 1.1765 and under the 1.1750 psychological level. 1.1700 level is seen as a potential downside target.

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.