EUR/USD Expected to increase further!
July 15, 2020 11:21 amVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
EUR/USD pair was trading within a down channel, between the downtrend line and the downside line, for more than a year on the Daily chart, but the price has escaped from this pattern (descending channel), the breakout above the downtrend line has signaled that the price could increase further in the upcoming period.
The pair has moved away from the downside line of the descending channel, signaling a potential oversold market and a potential reversal. EUR/USD has passed above the downtrend line after it has stabilized above the 1.1200 psychological level, now has managed to jump above the former high as well.
EUR/USD is expected to increase further as long as it is trading above the 1.1380 level, the next upside target is seen around the 1.1539 level, a breakout above this level will confirm a further growth towards the 1.1800 psychological level.
The breakout from the minor sideways movement between the 1.1200 and the 1.1380 has given us a great chance to open a buying opportunity as EUR/USD is expected to register an approx 180 pips growth in the short term.
A minor decrease towards the 1.1400 – 1.1380 area could give us another chance to go long on EUR/USD. Personally, I believe that only a drop below the 1.1200 level will invalidate a further upside movement in the upcoming period, this scenario is less likely to happen.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: