For Traders

Analytical Reviews

Technical analysis

12.08.202219:43 Forex Analysis & Reviews: EUR/USD exhausts buyers

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 Retesting The Sellers!

The EUR/USD pair was trading at 1.0265 at the time of writing above the 1.0243 today's low. Now, it challenges the 1.0265 historical level (former high) which represents an upside obstacle (resistance).

As you can see on the H1 chart, the rate failed to stabilize above the previous high of 1.0355 signaling exhausted buyers. Dropping below 1.0287 and 1.0265 downside obstacles (former highs) signaled a larger downside movement.

EUR/USD Forecast!

Dropping below 1.0243 today's low could activate more declines and could bring selling opportunities.

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.