Technical analysis:
EUR/USD has been trading sideways at the resistance Fibonacci confluence zone 1.0690.
Due to the strong resistance zone in the background and the downside cycle, I see potential for the further downside movement.
Downside objectives are set at the price of 1.0580 and 1.0545
Stochastic and MACD oscillators are still showing upside reading but watch for potential bear cross to confirm further downside direction…
Key resistance is set at the price of 1.0700-1.0730
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
EUR/USD
has been trading sideways
at the resistance
Fibonacci confluence zone 1.0690.
Due
to the strong resistance zone in the background and the downside
cycle, I see potential for the further downside movement.
Downside objectives are
set at the price of 1.0580
and 1.0545
Stochastic
and
MACD oscillators are
still showing upside reading but watch for potential bear cross to
confirm further downside direction…
Key
resistance is set at the price of 1.0700-1.0730
The material has been provided by InstaForex Company – www.instaforex.com
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