Technical analysis:
EUR/USD has been trading upside this morning but I found rejection of the resistance at 1.1085, which is good sign for the potential drop.
Due to the downside trend in the last few days and the rejection of the resistance, I see potential for the further drop towards lower reference.
Downside objective is set at the price of 1.1035
Stochastic oscillator is showing overbought condition and fresh downside cross, which is another good sign for the further downside movement.
Key resistance is set at the price of 1.1085
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
EUR/USD
has been trading
upside this morning but I found rejection of the resistance at
1.1085, which is good sign for the potential drop.
Due
to the downside trend in the last few days and the rejection of the
resistance, I see potential for the further drop towards lower
reference.
Downside
objective is set at the price of 1.1035
Stochastic
oscillator is showing overbought condition and
fresh downside cross, which is another good sign for the further
downside movement.
Key
resistance is set at the price of 1.1085
The material has been provided by InstaForex Company – www.instaforex.com
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