The currency pair is located at 1.0823 at the time of writing. It has dropped within a down channel, so as long as it stays below the downtrend line, the rate could approach and reach new lows.
Technically, the former low of 1.0801 represents a downside obstacle. A downside continuation could be invalidated only if the rate stays above the downside obstacle and if it jumps above the downtrend line.
EUR/USD Trading Conclusion!
Dropping below 1.0801 confirms more declines ahead. The channel’s downside line is seen as a downside target.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD 1.0801 Obstacle!
The currency pair is located at 1.0823 at the time of writing. It has dropped within a down channel, so as long as it stays below the downtrend line, the rate could approach and reach new lows.
Technically, the former low of 1.0801 represents a downside obstacle. A downside continuation could be invalidated only if the rate stays above the downside obstacle and if it jumps above the downtrend line.
EUR/USD Trading Conclusion!
Dropping below 1.0801 confirms more declines ahead. The channel’s downside line is seen as a downside target.
The material has been provided by InstaForex Company – www.instaforex.com
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