Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1490. Anyway, according to the H1 time – frame, I have found a potential end of the downward correction (expanded flat abc), which is a sign that selling looks risky. The price rejected from the Fibonacci expansion 161.8% at the price of 1.1490. I also found the breakout of the supply trendline, which is another sign that buyers are in control. My advice is to watch for buying opportunities. The upward target is set at the price of 1.1615.
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 1.1490. Anyway, according to the H1 time – frame, I have found a potential end of the downward correction (expanded flat abc), which is a sign that selling looks risky. The price rejected from the Fibonacci expansion 161.8% at the price of 1.1490. I also found the breakout of the supply trendline, which is another sign that buyers are in control. My advice is to watch for buying opportunities. The upward target is set at the price of 1.1615.
The material has been provided by InstaForex Company – www.instaforex.com
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