Technical analysis:
EUR/USD has been trading downside as I expected. The price reached first downside objective at 1.0535 with strong momentum.
Due to the strong downside momentum in the background I see potential for the further downside continuation after the correction.
Next downside objective is set at the price of 1.0400
Stochastic and MACD oscillators are showing downside reading with no evidence for the change in trend behavior.
Key resistance is set at the price of 1.0700
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
EUR/USD
has been trading downside
as I expected. The price reached first downside objective at 1.0535
with strong momentum.
Due
to the strong
downside momentum in the background I see potential for the further
downside continuation after the correction.
Next
downside
objective is set at the price of 1.0400
Stochastic
and
MACD oscillators are
showing downside
reading with no evidence for the change in trend behavior.
Key
resistance is set at the price of
1.0700
The material has been provided by InstaForex Company – www.instaforex.com
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