Technical analysis on EURUSD for September 6th, 2023.
September 6, 2023 2:23 pm
Red lines- bearish channel
EURUSD is trading around 1.0732. Short-term trend remains bearish as price continues making lower lows and lower highs. Price is inside a short-term downward sloping channel and the RSI has just reached oversold levels. From current levels the chances for a bounce have increased. A move towards 1.08 is highly probable. Resistance by the upper channel boundary is found at 1.0875. Bears remain in control of the trend.
The material has been provided by InstaForex Company – www.instaforex.com
Red lines- bearish channel
EURUSD is trading around 1.0732. Short-term trend remains bearish as price continues making lower lows and lower highs. Price is inside a short-term downward sloping channel and the RSI has just reached oversold levels. From current levels the chances for a bounce have increased. A move towards 1.08 is highly probable. Resistance by the upper channel boundary is found at 1.0875. Bears remain in control of the trend.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: