Kereskedési feltételek
Products
Eszkozok
EUR/USD is trading around 1.1722, above 4/8 Murray, approaching a strong resistance zone, which represents the top of the downtrend channel formed since December 17. So, we believe it could encounter strong rejection around 1.1745.
If EUR/USD reaches 1.1740 below this level in the next few hours, it could be seen as an opportunity to open short positions with a target at the 200 EMA around 1.1690. The price could eventually reach the bottom of the downtrend channel around 1.1650.
A definitive break above the downtrend channel and a consolidation above 1.1750 could lead to a recovery in EUR/USD. The instrument could reach the 6/8 Murray at 1.1840 in the coming days.
The Eagle indicator is showing positive divergence, so if a technical correction occurs towards the 3/8 Murray support or towards the 200 EMA located at 1.1690, it will be seen as a good point to open long positions.
If the euro breaks decisively below the 3/8 Murray and consolidates below 1.1650, the outlook could be negative and EUR/USD could reach the psychological level of 1.1500 in the short term.
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.