Yesterday, the single European currency lost 24 points (87 from the high of the day) under pressure from the British pound, which fell by 170 points due to Theresa May’s cancellation of the parliamentary vote on the Brexit project. The price managed to test the resistance of the embedded line of the price channel, but the support of the balance line on the daily chart was quite strong.
On the four-hour chart, the price fixed below the Krusenstern line and the Marlin signal line moved to the zone of negative numbers. After fixing the price under the low of yesterday, which will automatically correspond to the shift of the price balance under the indicator balance line on the daily and H4, the price may continue to decline to the target level of 1.1190. The second target of the euro will be the price channel line with an indicative level of 1.1085.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD
Yesterday, the single European currency lost 24 points (87 from the high of the day) under pressure from the British pound, which fell by 170 points due to Theresa May’s cancellation of the parliamentary vote on the Brexit project. The price managed to test the resistance of the embedded line of the price channel, but the support of the balance line on the daily chart was quite strong.
On the four-hour chart, the price fixed below the Krusenstern line and the Marlin signal line moved to the zone of negative numbers. After fixing the price under the low of yesterday, which will automatically correspond to the shift of the price balance under the indicator balance line on the daily and H4, the price may continue to decline to the target level of 1.1190. The second target of the euro will be the price channel line with an indicative level of 1.1085.
The material has been provided by InstaForex Company – www.instaforex.com
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