The EUR/USD pair increased and now is located at 1.0673 at the time of writing, far above yesterday’s low of 1.0633. The next immediate target is represented by 1.0689. Technically, the downtrend line represents an upside obstacle.
As long as the instrument stays below it, the rate could drop towards new lows. Only jumping and stabilizing above the downtrend line invalidates a downside continuation and indicates an upside reversal.
EUR/USD Trading Conclusion!
Testing and retesting 1.0689 and the downtrend line may announce a new drop. Still, a larger downside movement could be activated only after dropping below 1.0633.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD Downtrend!
The EUR/USD pair increased and now is located at 1.0673 at the time of writing, far above yesterday’s low of 1.0633. The next immediate target is represented by 1.0689. Technically, the downtrend line represents an upside obstacle.
As long as the instrument stays below it, the rate could drop towards new lows. Only jumping and stabilizing above the downtrend line invalidates a downside continuation and indicates an upside reversal.
EUR/USD Trading Conclusion!
Testing and retesting 1.0689 and the downtrend line may announce a new drop. Still, a larger downside movement could be activated only after dropping below 1.0633.
The material has been provided by InstaForex Company – www.instaforex.com
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