EURUSD is trading around 1.0920 trying to break above the red downward sloping resistance trend line. Price has the potential to move higher if price continues making higher highs and higher lows. Support is found at recent low of 1.0871. Bulls do not want to see a rejection at the red trend line and a break below 1.0871. This would be a bearish combination that would imply more downside towards 1.08 should be expected. Bulls want to see price break above 1.0937. A daily close above 1.0937 would be a sign of strength and could bring price towards 1.10.
The material has been provided by InstaForex Company – www.instaforex.com
Red line -resistance
EURUSD is trading around 1.0920 trying to break above the red downward sloping resistance trend line. Price has the potential to move higher if price continues making higher highs and higher lows. Support is found at recent low of 1.0871. Bulls do not want to see a rejection at the red trend line and a break below 1.0871. This would be a bearish combination that would imply more downside towards 1.08 should be expected. Bulls want to see price break above 1.0937. A daily close above 1.0937 would be a sign of strength and could bring price towards 1.10.
The material has been provided by InstaForex Company – www.instaforex.com
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