21.07.201908:24 Forex Analysis & Reviews: EURUSD fails to break critical resistance and retests support

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

EURUSD price saw another rejection at the 1.1280 area and a strong bearish pull back towards 1.12 support. So far support holds but time is running out. Soon we will have a strong breakout with a clear signal. The end of this sideways move is near.

Green rectangle - support

Green line - major trend line support

Red rectangle - major resistance

EURUSD made a strong move higher as expected towards 1.1280. Price got rejected and a triple top has been formed there. Resistance has been confirmed at 1.1280-1.13 area. Next time EURUSD visits this area we will have a break out...there will not be a fourth time rejection. Support at 1.12 remains valid. Price has reached 1.12 three times and each time price has bounced. Again I do not expect to see price test 1.12-1.1180 for the fourth time. A break below 1.12 will most probably be real next time if it occurs and it will accelerate selling pressures towards 1.11-1.10. Price continues to trade inside this trading range so traders need to be very cautious. I expect this sideways trend to end soon.

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.