EURUS is trading around 1.0885. Price continues making lower highs staying below the red downward sloping trend line. Support was tested once again at 1.0820-1.0840 area. Bulls need to break above 1.09 in order to provide a bullish signal. As long as price holds above the support area around 1.0820-1.0840 bulls have hopes for a new upward wave towards 1.10 at least. But the resistance at 1.09 must break first. Failure to hold above the green support trend lines will be a bearish signal and could bring EURUSD towards 1.07.
The material has been provided by InstaForex Company – www.instaforex.com
Red line- resistance
Green lines- support
EURUS is trading around 1.0885. Price continues making lower highs staying below the red downward sloping trend line. Support was tested once again at 1.0820-1.0840 area. Bulls need to break above 1.09 in order to provide a bullish signal. As long as price holds above the support area around 1.0820-1.0840 bulls have hopes for a new upward wave towards 1.10 at least. But the resistance at 1.09 must break first. Failure to hold above the green support trend lines will be a bearish signal and could bring EURUSD towards 1.07.
The material has been provided by InstaForex Company – www.instaforex.com
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