For Traders

Analytical Reviews

Technical analysis

08.07.202017:45 Forex Analysis & Reviews: Evening review on EURUSD for July 08, 2020

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.

EURUSD:

As observed, the euro, again, attempts to break through the level of 1.1345.

Sellers rally around the said level in hopes to protect it.

There are two possible scenarios:

1) The euro breaks through 1.1345 and closes the day higher. Or

2) The attempt to break through 1.1345 fails and the euro turns down and falls sharply.

You may keep purchases from 1.1245, but the stop is moved to 1.1260, where a downward pullback is possible.

That is, from 1.1260 you may sell euros with a stop at 1.1305.

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.