For Traders

Analytical Reviews

Technical analysis

29.03.202317:52 Forex Analysis & Reviews: EUR/USD: bearish pattern in play

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.

The EUR/USD pair registered a strong growth in the short term and now is trading at 1.0838 at the time of writing. It has climbed as much as 1.0871 today where it has found resistance. Technically, the price action developed a potential bearish formation.

Fundamentally, the USD received support from the US Pending Home Sales data. The economic indicator reported a 0.8% growth versus the 2.9% drop estimated. Tomorrow, the US Final GDP, Unemployment Claims, and the German Prelim CPI are seen as high impact events and should bring more action.

EUR/USD Sellers Could Take The Lead!

From the technical point of view, the EUR/USD pair tested and retested the ascending pitchfork's median line (ml), registering only false breakouts. A valid breakout through this dynamic resistance would have signaled a larger upwards movement.

The price action developed a flag pattern (up channel). This could represent a downside formation.

EUR/USD Outlook!

A new lower low, a bearish closure below 1.0816 activates more declines. This is seen as a bearish signal.

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.