Technical analysis:
EUR/USD has been trading downside as I expected and the price has reached first downside objective at 1.0945.
Due to the strong downside momentum and no major sign of the strength, I see potential for the further downside movement towards lower reference.
Downside objective is set at the price of 1.0845
Stochastic oscillator is showing fresh downside cross, which is another good sign for the further downside movement.
Key resistance is set at the price of 1.1045
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
EUR/USD
has
been trading downside
as I expected and the price has reached first downside objective at
1.0945.
Due
to the strong downside momentum and no major sign of the strength, I
see potential for the further downside movement towards lower
reference.
Downside
objective is set at the price of 1.0845
Stochastic
oscillator is showing fresh downside cross, which is another good
sign for the further downside movement.
Key
resistance is set at the price of 1.1045
The material has been provided by InstaForex Company – www.instaforex.com
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