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The EURUSD pair has been uptrending since the pair has initiated the depicted uptrend line on May 14.
On June 11, a major resistance level was formed around 1.1400 which prevented further upside movement and forced the pair to have a downside pause towards the uptrend line.
This week, the uptrend seems to show signs of weakness while moving above the mentioned resistance level (1.1400).
A couple of contradictory Fundamental data from the U.S. have caused some hesitation in the market during the past two days.
However, We should be expecting a probable breakdown for the depicted uptrend line to occur to the downside in the near future.
That's why, Short-term traders can have a valid SELL order/position anywhere around the mentioned resistance level of 1.1450.
Another SELL order can be placed after a breakdown below the uptrend line occurs. Estimated target levels are located around 1.1300, 1.1225 and 1.1170.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
