Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1413. According to the H4 time – frame, I have found the breakout of the upward trendline and the potential end of the upward correction (abc flat), which is a sign that buying looks risky. I also found the rejection from the supply trendline in the background, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of 1.1300.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1413. According to the H4 time – frame, I have found the breakout of the upward trendline and the potential end of the upward correction (abc flat), which is a sign that buying looks risky. I also found the rejection from the supply trendline in the background, which is another sign of weakness. My advice is to watch for selling opportunities. The downward target is set at the price of 1.1300.
The material has been provided by InstaForex Company – www.instaforex.com
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