The EUR/USD pair registered a strong growth in the short term and now is trading at 1.1018. As you can see on the H1 chart, the price failed to stay below the downtrend line (upside obstacle) signaling that the downside movement ended.
Jumping above the downtrend line announced a potential upside reversal. Now, it has reached 1.1037 which represents an upside obstacle. After its strong growth, a temporary drop could be natural.
EUR/USD trading conclusion
Jumping and stabilizing above the 1.1037 activates further growth and is seen as a buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD 1.1037 upside obstacle
The EUR/USD pair registered a strong growth in the short term and now is trading at 1.1018. As you can see on the H1 chart, the price failed to stay below the downtrend line (upside obstacle) signaling that the downside movement ended.
Jumping above the downtrend line announced a potential upside reversal. Now, it has reached 1.1037 which represents an upside obstacle. After its strong growth, a temporary drop could be natural.
EUR/USD trading conclusion
Jumping and stabilizing above the 1.1037 activates further growth and is seen as a buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
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